For today, January 21st, 2022, the current average mortgage rate on the 30-year fixed-rate mortgage is 3.56%, the average rate for the 15-year fixed-rate mortgage is 2.79% according to FreddieMac. 


Compare those rates to the historic low rates we saw in late 2021; 2.65% on a 30-year fixed-rate mortgage and 2.125% for 15-year fixed-rate mortgage 


Mortgage industry experts have long predicted rising rates, and recent statements by Federal Reserve Chairman Jerome Powell offer new support. The Federal Reserve said last month there could be as many as three rate hikes in 2022, which translates into higher rates for mortgages.


Many experts have called for 30 year Fixed rates to hit 4% by the end of 2022, with the sudden increase in rates over the last month it may be sooner than later that we see interest rates cross the 4% barrier. 


Click the button below to check real and accurate rates with Pat Dolan, mortgage broker in Santa Maria. 

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