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.

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. It averaged 6.91% as of Jan. 2, according to data released by Freddie Mac on Thursday.

Mortgage rates touched their highest point since July, while the market's affordability headwinds continued to persist, the latest Freddie Mac Primary Mortgage Survey showed. 30-year fixed-rate mortgages averaged 6.

US mortgage rates climbed to an almost six-month high during the Christmas holiday week, suppressing applications for home purchases and severely undercutting refinancing activity.

The average interest rate on a 30-year mortgage rose to 6.91% as of Thursday, up from 6.85% a week earlier, according to Freddie Mac data. A measure from the Mortgage Bankers Association advanced 8 basis points to 6.97% in the period ended Dec. 27, a nearly six-month high. A year ago at this time, the 30-year FRM averaged 6.62%.

The mortgage rate in crease is occurring with the price of homes increasing steadily and pending property deals on the rise.

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.