---
title: An Update On Mortgage Rates
description: An Update On Mortgage Rates
image: https://www.barryinvestmentadvisors.com/hubfs/Mortgage%20Rates.jpg
---

June 28, 2022

# An Update On Mortgage Rates

In response to the Covid-19 pandemic, the Federal Reserve dropped interest rates to historic lows....

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Posted by [Barry Investment Advisors](https://www.barryinvestmentadvisors.com/blog/author/barry-investment-advisors)

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In response to the Covid-19 pandemic, the Federal Reserve dropped interest rates to historic lows. As a result, the average rate on a 30-year fixed mortgage fell below 3.0% in December of 2020. With the Fed changing course and rates now rising, 30-year mortgage rates have increased in turn, now around 5.5% on average. This article from Wolf Street discusses where the U.S. housing market has been and where it may be headed next.

                                                              [![Click Here to Read](https://no-cache.hubspot.com/cta/default/424177/7e6438d7-b09d-4c73-b238-4a46e6930e12.png)](https://cta-redirect.hubspot.com/cta/redirect/424177/7e6438d7-b09d-4c73-b238-4a46e6930e12)

 

 

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