After dipping for two days, 30-year mortgage rates edged higher, again nearing their highest level since early July. Rate movement was mixed for other loan types.

The new year has started with rising mortgage rates. Freddie Mac reports its Primary Mortgage Market Survey shows the 30-year fixed-rate (FRM) averaged 6.9

After a recent surge to their most expensive level since early July, 30-year mortgages ticked down Friday. Rates for most other loans were down or flat.

The Freddie Mac mortgage rate tracker on Thursday morning showed the conforming 30-year fixed rate mortgage creep closer to the 7% level last seen in May.

“Inching up to just shy of 7%, mortgage rates reached their highest point in nearly six months,” said Sam Khater, Freddie Mac’s chief economist. “Compared to this time last year, rates are elevated and the market’s affordability headwinds persist. However, buyers appear to be more inclined to get off the sidelines as pending home sales rise.”

Mortgage rates inched up at the start of the year to the highest level in nearly six months, portending another tough year for the U.S. housing market. The 30-year mortgage rate remains at the highest level since July 2024.

Mortgage rates climbed again for a third consecutive week to the since since July, with the 30-year fixed-rate average rising to just under 7% as the housing market remains stalled.