Mortgage rates climb north of 6.5% for first time since August

Mortgage rates climbed for the fourth consecutive week, hitting the highest levels since August and adding a fresh chill to the housing market as it enters a seasonal slow period.

The average 30-year fixed interest rate crept up to 6.54% in the week through Wednesday, according to Freddie Mac data. Last week, it averaged 6.44%.

Fifteen-year mortgage rates also climbed to 5.71%, up from 5.63%.

Mortgage rates have been mirroring an increase in Treasury yields in recent weeks. The 10-year Treasury, which most closely matches mortgage rates, yielded 4.2% on Thursday, after nearing the highest levels since July a day earlier.

 

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