Mortgage Rates Continue to Rise for Second Consecutive Week.

Mortgage rates have increased for the second week in a row, frustrating buyers who are already struggling with an unfriendly housing market. The rate on the 30-year fixed rate mortgage increased to 6.43% from 6.39% the week prior, according to Freddie Mac. Meanwhile, homeowners are reluctant to sell, worsening the acute shortage of for-sale properties. Fannie Mae and Freddie Mac are set to update their mortgage fees next month to improve home affordability for riskier buyers, but the Federal Housing Finance Agency is set to increase fees on conventional loans for borrowers with higher credit scores.