The short-term report is that interest rates on residential loans turned higher this past week. The medium-term outlook is for more of the same.

For all of June, customers shopping rates at LendingTree for a loan to finance a home purchase were offered an average annual percentage rate of 5.00 percent.

But for prospective borrowers who had the highest credit scores — at least 760 — the average APR last month worked out to 4.86 percent.

Source: Mortgage Daily