Average rate on a 30-year mortgage climbs to 6.85%, highest since July, as bond yields keep rising
WASHINGTON (AP) — The average rate on a 30-year mortgage in the U.S. rose for the second week in a row to its highest level since mid-July, reflecting a recent jump in the bond yields that lenders use as a guide to price home loans. The rate rose to 6.85% from 6.72% last week, mortgage buyer Freddie Mac said Thursday. One year ago, the rate on a 30-year mortgage averaged 6.61%. The average rate on a 30-year mortgage is now […]