The Fed kept policy rates unchanged at this month's meeting, but more officials forecast rate increases in 2023. The markets' response to Fed comments pressured rates higher.

Inflation concerns grew this week, as May's producer prices rose at their fastest annual clip in nearly 11 years. Inflation increases are bad for mortgage rates, pushing them higher.

Jobless claims continue to come in closer to what economists consider a normal range, a sign that the labor market continues to improve despite high continuing claims numbers.

Homebuilder sentiment was down slightly in June from recent highs, as builders struggle with higher costs and declining availability of lumber and other building materials.

Housing starts rose 3.6% to a seasonally adjusted annual rate of 1.572 million units last month, supported by an acute shortage of previously owned homes available for sale.

The current hottest home outdoor amenity is a pool. Inground pools are in high demand, causing longer waits and higher prices for homeowners on a quest to create a staycation oasis.