Mortgage rates inched up last week but remain near year-to-date lows

Mortgage rates rose slightly this week after the Federal Reserve’s latest interest rate cut on Wednesday proved insufficient to offset a spike in Treasury yields earlier in the week. The average 30-year mortgage rate was 6.22% through Wednesday, according to Freddie Mac data. That’s up from 6.19% last week but still not far from year-to-date lows. The average 15-year mortgage rate was 5.54%, from 5.44% last week. Financial markets are closely watching upcoming economic data for clues about the direction o ...