Young home-buyers are at an especial disadvantage in today’s housing market

There’s never been a cheaper time to get a mortgage for most Americans, but finding a home you can afford is whole other ball game entirely.

The 30-year fixed-rate mortgage increased to an average of 3.18% during the week ending June 4, a decrease of three basis points from the previous week when rates dropped to a record low, Freddie Mac FMCC, +1.48% reported Thursday.

Comparatively, the 15-year fixed rate mortgage remain unchanged from last week, averaging 2.62%. The 5-year Treasury-indexed hybrid adjustable-rate mortgage fell three basis points to an average of 3.1%.

Mortgage rates are once again roughly tracking the direction of long-term bond yields, particularly the yield on the 10-year Treasury note TMUBMUSD10Y, 0.704%, which rose in recent days.

“After Treasury yields rose in recent days in response to some favorable reports on the labor market, service sector and factory orders, mortgage rates did the same,” said Zillow ZG, +1.19% economist Matthew Speakman. “As reports continue to emerge that show the economy may be beginning a modest recovery, suddenly there appears to be upward pressure on bond yields, and thus mortgage rates.”