Average rate on a US 30-year mortgage rises to 6.81%, its highest level since late April
The average rate on a 30-year
mortgage
in the U.S. rose above 6.8% this week, returning to where it was just three weeks ago.
The rate increased to 6.81% from 6.76% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 7.02%.
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Borrowing costs on 15-year fixed-rate mortgages, popular with homeowners refinancing their home loans, also rose. The average rate ticked up to 5.92% from 5.89% last week. It's down from 6.28% a year ago, Freddie Mac said.
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Average rate on a US 30-year mortgage rises to 6.81%, its highest level since late April
The average rate on a 30-year mortgage in the U.S. rose above 6.8% this week, returning to where it was just three weeks ago.
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Mortgage rates are influenced by several factors, including global
demand
for U.S. Treasurys, the Federal Reserve's
interest rate
policy decisions and bond market investors' expectations about the economy and inflation.
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