It was a seesaw week in the U.S. housing market, with mortgage rates taking off like a rocket while housing starts sank like a rock.
On The Mortgage Front: Freddie Mac (OTC:FMCC) reported the 30-year fixed-rate mortgage averaged 5.78% as of June 16, 2022, up from last week when it averaged 5.23%. The 15-year fixed-rate mortgage averaged 4.81%, up from last week when it averaged 4.38%. And the five-year, Treasury-indexed hybrid adjustable-rate mortgage averaged 4.33%, up from last week when it averaged 4.12%.
