Mortgage rates increased slightly this week, but remain near historic lows, according to Freddie Mac.
The 30-year fixed-rate mortgage averaged 3.48%,
"The 10-year Treasury yield remained flat this week in anticipation of the Fed's July policy meeting. Mortgage rates, on the other hand, rose another 3 basis points," said Sean Becketti, chief economist at Freddie Mac.
The 15-year FRM averaged 2.78%, up from last week when it averaged 2.75%. A year ago at this time, the 15-year averaged 3.17%.
The five-year Treasury-indexed hybrid adjustable-rate mortgage averaged 2.78%, unchanged from last week, while a year ago it averaged 2.95%.
"Home sales continue to benefit from the persistently low mortgage rates with June's new home sales coming in at an annualized rate of 592,000 homes — its fastest pace since 2008," Becketti added.
