Long-term mortgage rate ticks up slightly to 6.16% |
The average rate on a 30-year U.S. mortgage edged higher this week to just above its 2025 low.
The average long-term mortgage rate rose to 6.16%, mortgage buyer Freddie Mac said Thursday. That’s up slightly from 6.15% last week, when the average rate dropped to its lowest level since October 3, 2024. One year ago, the rate averaged 6.93%.
Borrowing costs on 15-year fixed-rate mortgages, popular with homeowners refinancing their home loans, rose this week to 5.46%, from 5.44% the previous week. A year ago, it averaged 6.14%, Freddie Mac said.
Mortgage rates are influenced by several factors, from the Federal Reserve’s interest........