This week in the housing and mortgage industries saw the continued rise of mortgage rates, the continued slump in existing home sales and rental housing costs reaching record-breaking highs.
On The Mortgage Front: Freddie Mac (OTC:FMCC) reported the 30-year fixed-rate mortgage averaged 5.81% of June 23, up from last week when it averaged 5.78%. The 15-year fixed-rate mortgage averaged 4.92%, up from last week when it averaged 4.81%. And the five-year, Treasury-indexed hybrid adjustable-rate mortgage averaged 4.41%, up from last week when it averaged 4.33%
