Freddie Mac data shows 30-year fixed mortgage rates climbed for a second week, remaining below last year’s levels.
US 30-year fixed mortgage rates averaged 6.53% for the week ending May 28, up from 6.51% the prior week. The increase marks the second consecutive weekly gain, though rates remain below the 6.89% recorded a year ago.
The latest Freddie Mac survey highlights a modest uptick in borrowing costs, following a period of relative stability. Rates had dipped earlier in the month but have now risen for two straight weeks, reflecting shifts in bond market yields and investor expectations for Federal Reserve policy.
15-year fixed mortgage rates also edged higher, though specific figures were not immediately detailed in the release.