Mortgage buyer Freddie Mac said Thursday that the average rate on a 30-year U.S. mortgage rose to 6.34% from 6.3% last week, according to the Associated Press. One year ago, the rate averaged 6.12%.
The news marks the second straight week that the rate has climbed following a string of declines that had reduced home borrowing costs to their lowest level in almost a year.
Borrowing costs on 15-year fixed-rate mortgages also inched up this week. rising to 5.55% from 5.49% the prior week and 5.25% a year ago, Freddie Mac said.
