The average rate on new 30-year fixed-rate mortgages rose slightly last week, to 6.93%, according to Freddie Mac's market survey.

The week-earlier average was 6.88%.

One-year adjustables were also up, to 5.63% from 5.56%, as were 15-year fixed loans, to 6.55% from 6.51%.

Robert Van Order, chief economist for Freddie Mac, said further evidence of a strong economy raised inflation fears that nudged rates up.

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