Mortgage rates changed course and rose this week after several consecutive weeks of decline, according to Freddie Mac's weekly survey.
The average rate for a 30-year fixed-rate mortgage for the week that ended Sept. 25 climbed 31 basis points from the previous week but fell 33 basis points from a year earlier, to 6.09%, Freddie said Thursday.
Obtaining that rate required an average payment of 0.7% of the mortgage amount as prepaid interest.
"Mortgage rates followed Treasury bond yields higher this week amid market uncertainty over the current state of the economy," Frank Nothaft, the government-sponsored enterprise's chief economist, said in a press release.
"Compared with last Thursday, 10-year Treasury yields are up about 0.3 percentage points, and 30-year fixed-rate loans moved up about the same amount," he said. "And while up, interest rates for 30-year [mortgages] are still more than 0.5 percentage points below this year's peak of 6.63% set the week of July 24."
