Average US long-term mortgage rate rises to 6.52%, just below its high for the year (opens in new tab)

The average long-term U.S. mortgage rate ticked up this week to just below its high for the year, the latest sign that borrowing costs on home loans remain elevated relative to where they were before the war with Iran started. The benchmark 30-year fixed rate mortgage rate rose to 6.52% from 6.48% last week, mortgage buyer Freddie Mac said Thursday. When mortgage rates rise they can add hundreds of dollars a month in costs for borrowers, reducing their purchasing power.