A top housing finance regulator announced that Fannie Mae and Freddie Mac would allow lenders to use the traditional FICO score or one from a rival, VantageScore.

Freddie Mac has released its latest Primary Mortgage Market Survey, showing that average mortgage rates inched higher this week. The benchmark 30-year fixed-rate mortgage (FRM) now stands at 6.75%, marking a modest increase from 6.72% last week. Meanwhile, the 15-year FRM rose to 5.92%, up from 5.86%.

Mortgage rates moved higher for the second week in a row, according to Freddie Mac. The average rate on a 30-year loan reached 6.75%.

With Trump’s tax overhaul now in the rearview mirror, a potential Freddie and Fannie conservatorship release could move up the docket.

The average rate on the 30-year fixed mortgage rose this week to 6.72%, according to the latest Freddie Mac data released on Thursday. That is up from last week's reading of 6.67%.

A growing number of homeowners say no rate would make them sell, making it even harder for buyers to find homes.

Effective immediately, Fannie and Freddie will allow mortgage lenders to use VantageScore credit ratings to assess creditworthiness.