Benchmark U.S. mortgage rates inched closer to the 7 percent mark last week as long-dated Treasury yields climbed to their highest levels since the spring.
According to Freddie Mac’s Primary Mortgage Market Survey, the average contract interest rate on 30-year fixed-rate mortgages reached a six-month high of 6.91 percent for the week ending Jan. 2. This is up 6 basis points from last week and 29 basis points from a year ago.
