Mortgage rate high by December 29, 2022?
Mortgage rate high by December 29, 2022?
Above 6.0%
Yes
Above 6.0%
Yes
Above 6.5%
Yes
Above 6.5%
Yes
Above 7.0%
Yes
Above 7.0%
Yes
4 more
Market Rules
Above 5.5%
If the 30-year fixed-rate mortgage rate is above 5.5% for any week between May 16, 2022 to December 29, 2022 as reported by the Freddie Mac Primary Mortgage Market Survey® (“PMMS”), then the market resolves to Yes. Outcome verified from Freddie Mac.
The market will expire at the sooner of the first 10:05 AM ET following the occurrence of the event, the first 10:05 AM ET following the release of the data for December 29, 2022, or January 05, 2023.
Timeline and payout
Market openMay 16, 2022 · 10:00am EDT
Market closedJun 17, 2022 · 1:03pm EDT
Paid outDec 29, 2022 · 1:00pm EST
SeriesKXFRMMAX
EventFRMMAX-22DEC29
MarketFRMMAX-22DEC29-P5.5
Insider trading is prohibited
The following are prohibited from trading this contract:
- Persons who are employed by any of the Source Agencies are not permitted to trade on the Contract.
- Persons who hold any material, non-public information on the Underlying are not permitted to trade on the Contract.
About
In October 1981, 30-year fixed mortgage rates reached their historical peak at 18.63%, with that year's average 30-year rate standing at 16.64%. This extraordinary surge was driven by the OPEC embargo, which led to record inflation in the United States. To try to control inflation, the Fed raised interest rates to historic levels.