Average long-term mortgage rate ticks up to 6.22%, but remains close to low for year

Core Viewpoint - The average rate on a 30-year U.S. mortgage has increased slightly but remains close to its lowest point of the year [1][2] Group 1: Mortgage Rate Changes - The average long-term mortgage rate rose to 6.22% from 6.19% last week, down from 6.6% a year ago [2] - The average rate for 15-year fixed-rate mortgages increased to 5.54% from 5.44% last week, compared to 5.84% a year ago [2] Group 2: Influencing Factors - Mortgage rates are affected by the Federal Reserve's interest rate policies, bond market expectations regarding the economy and inflation, and generally follow the 10-year Treasury yield [3] - The 10-year Treasury yield was reported at 4.12% at midday Thursday, slightly higher than the previous week [3]