The average interest rate on a 30-year fixed-rate mortgage moved up to 3.09%, according to Freddie Mac. That's the highest rate since last June. The 15-year fixed-rate mortgage went up to 2.4%.More from Success Readers share how the pandemic will change their spending habitsBuyers have to act fast in this tough housing market
"As expected, mortgage rates continued to inch up but are still hovering around 3%, keeping interested buyers in the market," said Sam Khater, Freddie Mac's chief economist. For most prospective buyers, the low inventory of available homes for sale continues to be the biggest challenge.
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