CHICAGO (AP) — The average long-term U.S. mortgage rate rose for a fifth consecutive week to its highest level in just over a year, marking the latest strain for prospective homebuyers who are facing steep borrowing costs.
The benchmark 30-year fixed rate mortgage rate rose to 6.69%, mortgage buyer Freddie Mac said Thursday, up slightly from 6.66% reported last week. By comparison, the average rate was 6.63% at this time last year — and hadn’t been higher than its current level since late July in 2025.