The average for a 30-year, fixed loan was 6.64%, up from 6.63% last week, Freddie Mac said in a statement Thursday.
Borrowing costs have been hovering close to 6.6% after falling from a peak of 7.79% in late October. That decline has pushed more buyers into the market, with a gauge of US existing-home contracts rebounding sharply in December and a measure of mortgage applications ticking up in recent weeks.
US Treasury yields have climbed as Federal Reserve policymakers suggested they’re not in a rush to cut interest rates. Chair Jerome Powell said earlier this week that the central bank’s job taming inflation is “not quite done” and consumers may have to wait beyond March for the first reduction.
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