TMHC - Mortgage rates ahead of 3% first time in more than two months

30-year fixed-rate mortgage averaged 3.02% for the week ending June 24, up from 2.93% recorded in prior week and down from 3.13% averaged in same period a year ago, according to the Freddie Mac Primary Mortgage Survey."As the economy progresses and inflation remains elevated, we expect that rates will continue to gradually rise in the second half of the year. For those homeowners who have not yet refinanced – and there remain many borrowers who could benefit from doing so – now is the time," Freddie Mac's Chief Economist Sam Khater commented.15-year FRM averages 2.34% up from last week when it averaged 2.24% and 2.59% a year ago.5-year Treasury-indexed hybrid adjustable rate mortgage averaged 2.53%, up from 2.52% in prior week, and lower from 3.08% a year ago."Housing market potential strengthened again last month, according to our Potential Home Sales Model, despite significant supply headwinds. In May, housing market potential increased (to 6.34M seasonally adjusted annualized rate) 0.8% compared with

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Mortgage rates ahead of 3%, first time in more than two months