HOMZ - Mortgage rates move higher to 5.5% making affordability as a hindrance to home buyers

• 30-year fixed-rate mortgage averaged 5.51% with an average 0.8 point for the week ending July 14, up from last week when it averaged 5.3% and higher than 2.88% a year ago, according to the Freddie Mac Primary Mortgage Survey .
• "With rates the highest in over a decade, home prices at escalated levels, and inflation continuing to impact consumers, affordability remains the main obstacle to homeownership for many Americans," chief economist Sam Khater commented.
• 15-year fixed-rate mortgage averaged 4.67% with an average 0.8 point, up from last week when it averaged 4.45% and higher from 2.22% a year ago.
• 5-year Treasury indexed hybrid adjustable-rate mortgage averaged 4.35% with an average 0.2 point, up from last week when it averaged 4.19% and higher than 2.47% a year ago.
• Homebuilding stocks: ( DHI ), ( KBH ), ( LEN ), ( TOL ), ( PHM ), ( NVR )
• ETFs Watch: ( XHB ), ( REM ), ( REZ ), ( HOMZ )

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