Average US long-term mortgage rate ticks higher, holding near lowest point in more than 3 years

Core Insights - The average long-term U.S. mortgage rate has increased for the second consecutive week, now at 6.1%, slightly above its lowest level in over three years [1] - The 15-year fixed-rate mortgage also saw a rise, with the average rate increasing to 5.49% from 5.44% last week [2] - Mortgage rates are influenced by various factors, including the Federal Reserve's interest rate policies and the 10-year Treasury yield, which was at 4.24% recently [3] Group 1 - The benchmark 30-year fixed mortgage rate rose to 6.1% from 6.09% last week, down from 6.95% a year ago [1] - The average rate for 15-year fixed-rate mortgages increased to 5.49% from 5.44%, compared to 6.12% a year ago [2] - The 10-year Treasury yield, which impacts mortgage pricing, was at 4.24% at midday Thursday, slightly lower than the previous week [3]