LGIH - Mortgage rates inch higher still below 3%

"Home prices continue to accelerate while inventory remains low and new home construction cannot happen fast enough," Freddie Mac’s Chief Economist Sam Khater commented.30-year fixed-rate mortgage averaged 2.99% for the week ending June 3, higher from 2.95% recorded in prior week and down from 3.18% averaged in same period a year ago, according to the Freddie Mac Primary Mortgage Survey.15-year FRM averages 2.27% unchanged from prior week and 2.62% a year ago.5-year Treasury-indexed hybrid adjustable rate mortgage averaged 2.64%, up from 2.59% in prior week, and lower from 3.10% a year ago.Homebuilder stocks to watch: (LGIH), (KBH), (MTH), (TMHC), (DHI), (LEN), (PHM), (TOL)ETFs Watch: iShares U.S. Home Construction ETF (ETB), iShares Mortgage Real Estate Capped ETF (REM), iShares 7-10 Year Treasury Bond ETF (IEF)Mortgage REITs: Annaly Capital Management (NLY), AGNC Investment (AGNC), Chimera Investment (CIM)

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Mortgage rates inch higher, still below 3%