Average US long-term mortgage rate rises to 6.11%, back to where it was 5 weeks ago

Core Viewpoint - The average long-term U.S. mortgage rate has increased due to ongoing bond market concerns related to the war with Iran, with the benchmark 30-year fixed rate rising to 6.11% from 6% last week, compared to 6.65% a year ago [1] Group 1: Mortgage Rate Trends - The average mortgage rate has returned to levels seen five weeks ago, having recently reached its lowest point in three and a half years just two weeks prior [2] - The average rate for 15-year fixed-rate mortgages also increased to 5.5% from 5.43% last week, down from 5.8% a year ago [3] Group 2: Influencing Factors - Mortgage rates are affected by various factors, including the Federal Reserve's interest rate policies and bond market investors' expectations regarding the economy and inflation, typically following the 10-year Treasury yield [4] - The 10-year Treasury yield rose to 4.24% at midday Thursday, up from approximately 4.13% a week earlier [4]