Mortgage Interest Rates

The 30-year fixed-rate mortgage averaged 6.87% as of June 20, down from 6.95% the prior week but up from 6.67% one year ago.The higher-for-longer interest rate environment continues to put downward pressure on builder sentiment and overall building conditions. And faced with record-high prices for homes, many would-be buyers are opting to stay on the sidelines and wait for housing affordability conditions to improve.