The continued summer slowdown in the housing market could see an uptick in transactions before fall, but economists are pointing to an array of economic and geopolitical headwinds that could possibly drive mortgage rates even higher as the spark. The average 30-year fixed mortgage rate (FRM) rose another 8 basis points this week to 6.66%, up from 6.58% last week, and the 15-year FRM averaged 6.04%, up from 5.96% last week, according to the latest Primary Mortgage Market Survey® (PMMS®), released by Freddie Mac Thursday. Rates have been increasing for the last four straight weeks, reaching their highest point since last July. But it’s possible that we could see a surprise bump in transactions at the end of the summer if buyers expect mortgage rates to move higher in the fall.” Since mortgage rates tend to track the 10-year Treasury, this week’s move higher reflects that repricing.”