Average long-term mortgage rates rise again, reaching their highest level in 4 weeks
The average long-term U.S. mortgage rate rose for the second time in as many weeks, climbing to its highest level in four weeks
ByALEX VEIGA AP business writer
January 11, 2024, 11:11 AM
LOS ANGELES -- The average long-term U.S. mortgage rate rose for the second time in as many weeks, climbing to its highest level in four weeks.
The average rate on a 30-year mortgage rose to 6.66% from 6.62% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 6.33%.
Borrowing costs on 15-year fixed-rate mortgages, popular with homeowners refinancing their home loans, eased this week, bringing the average rate to 5.87% from 5.89% last week. A year ago, it averaged 5.52%, Freddie Mac said.
The latest increase in the average rate on a 30-year home loan follows a nine-week string of declines at the end of last year that lowered the average rate after it surged in late October to 7.79%, the highest level since late 2000.
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