The U.S. housing market closed June with a decline in mortgage rates, a bump-up in pending home sales, a growing number of available properties for sale and an evaporating enthusiasm for vacation homes.
On The Mortgage Front: Freddie Mac (OTC:FMCC) reported the 30-year fixed-rate mortgage averaged 5.70% as of June 30, 2022, down from last week when it averaged 5.81%. The 15-year fixed-rate mortgage averaged 4.83%, down from last week when it averaged 4.92%. And the 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 4.50%, up from last week when it averaged 4.41%.
