"Mortgage Rates Fluctuate: Recent Rise Follows Period of Stability and Predictions of Sustained Highs"

U.S. mortgage rates have increased for the first time since late October 2023, with the average rate for a 30-year fixed loan rising slightly to 6.62% from 6.61% the previous week, according to Freddie Mac. This marks the end of a 10-week streak of declining rates from near two-decade highs. Despite this uptick, an economist has suggested that mortgage rates are likely to decline over the course of the year.