30-Year Fixed Mortgage Hits 6.29%, Double Last Year’s Average

Orange County Register, Sept. 22, 2022–Jeff Lazerson
If you were to take out a $647,200 mortgage today (Freddie Mac’s maximum conforming loan amount), your principal and interest payment would be $4,002. One year ago, the Freddie average rate was 2.88%, offering a principal and interest payment of $2,687. That’s $1,315 more per month, or a payment jump of 49%. (MBA mention)