The average rate on a 30-year mortgage in the U.S. rose for the fifth straight week, returning to its highest level since early August.
The rate rose to 6.72% from 6.54% last week, mortgage buyer Freddie Mac said Thursday. That’s still down from a year ago, when the rate averaged 7.76%.
Borrowing costs on 15-year fixed-rate mortgages, popular with homeowners seeking to refinance their home loan to a lower rate, also increased this week. The average rate rose to 5.99% from 5.71% last week. A year ago, it averaged 7.03%, Freddie Mac said.
To continue reading the rest of the article, please click on the source link below:
https://abcnews.go.com/Business/wireStory/average-rate-30-year-mortgage-us-rises-straight-115357576