Mortgage Interest Rates on the Rise! January 11, 2022

Mortgage Interest Rates started a new year on an upswing, although they still remain historically low. The average rate on 30-year mortgages kicked off the year at 3.4 percent, their highest level since June 2020.

Mortgage experts expect rates to continue their climb from the all-time bottom achieved in January 2021, but the latest public-health scare changed things a bit. A year ago, the benchmark 30-year fixed-rate mortgage interest rate was 2.95 percent. Four weeks ago, the rate was 3.24 percent. The 30-year fixed-rate average for this week is 0.06 percentage point above the previous 52-week high of 3.34 percent, and 0.47 percentage points higher than the 52-week low of 2.93 percent.