U.S. 30-Year Mortgage Rate Rises to 6.1 Percent

The average long-term U.S. mortgage rate increased slightly for the second consecutive week, reaching 6.1 percent on the benchmark 30-year fixed-rate mortgage, according to Freddie Mac's weekly survey released Thursday. While the uptick marks a modest reversal from recent declines, the rate remains just above its lowest point in more than three years and well below the 6.95 percent recorded a year earlier.

The 15-year fixed-rate mortgage, often chosen by homeowners seeking to refinance, also rose this week to 5.49 percent from 5.44 percent, compared with 6.12 percent a year ago. These rates are shaped by multiple factors, including the Federal Reserve's monetary policy, investor expectations for economic growth and inflation, and movements in the bond market. Mortgage pricing typically tracks the 10-year Treasury yield, which stood at 4.24 percent midday Thursday, a touch lower than the previous week.

The latest rise follows the Federal Reserve's decision Wednesday to hold its benchmark short-term interest rate steady, pausing a series of three cuts implemented toward the end of 2025 to bolster the job market. Although the central bank does not directly control mortgage rates,...