This week in the housing market, mortgage rates resumed their upward movement, mortgage applications continued their downward movement and industry experts weighed in on the arrival of the next recession.
On The Mortgage Front: Federal Home Loan Mortgage Corp - Freddie Mac (OTC:FMCC) reported the 30-year fixed-rate mortgage averaged 5.23% as of June 9, up from last week when it averaged 5.09%. The 15-year fixed-rate mortgage averaged 4.38%, up from last week when it averaged 4.32%. And the 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 4.12%, up from last week when it averaged 4.04%.
