Mortgage rates bounce back above 7%

istock.com/Andrii Yalanskyi MCLEAN, Va. — Freddie Mac today released the results of its Primary Mortgage Market Survey (PMMS), showing the 30-year fixed mortgage rates (FRM) averaged 7.08%. “As the housing market adjusts to rapidly tightening monetary policy, mortgage rates again surpassed seven percent,” said Sam Khater, Freddie Mac’s Chief Economist. “The housing market is the…