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For the fifth time in the past seven weeks, mortgage rates moved higher, Freddie Mac reported, as consumer prices keep rising due to the Iran conflict.
While this only shows a 2-basis-point rise in the 30-year fixed since last week, the Lender Price product and pricing engine data is 30 basis points higher.
For the first time since early September 2022, the Freddie Mac Primary Mortgage Market Survey has the 30-year below 6%, but the 15-year gained this week.
While the Freddie Mac survey recorded a weekly decline, the benchmark 10-year Treasury yield had moved back up by 6 basis points around midday on Thursday.
The path of US interest rates remains in focus following the slower-than-expected US inflation print as traders fully price a Fed cut in July.