Alex Veiga

The average U.S. 30-year fixed mortgage rate rose to 6.58% from 6.55% the previous week, reaching its highest level in nearly a year, though it remained below the 6.74% average recorded a year earlier. Rising oil prices and renewed inflation concerns have pushed bond yields higher, contributing to increased mortgage costs and potentially delaying home purchases. The 15-year mortgage rate also moved higher, while markets continued to assess the Federal Reserve’s future interest-rate decisions.