"Incoming economic data continue to send mixed signals about the economy, with the overall impact leaving Treasury yields higher last week as markets expect that the Federal Reserve will need to hold rates higher for longer to slow inflation. All mortgage rates in our survey followed suit, with the 30-year fixed rate increasing to 7.07 percent, the highest level since November 2022." --MBA Vice President and Deputy Chief Economist Joel Kan

Black Knight, Jacksonville, Fla., found in its Mortgage Monitor Report that its seasonally adjusted Home Price Index hit a new high in May, with the price decreases over the past year having fully reversed.