Average US long-term mortgage rate rises to 6.52%, just below its high for the year

The average U.S. 30-year fixed mortgage rate increased to 6.52%, remaining below its 2024 high of 6.84% but still elevated compared to pre-US-Iran conflict levels. Rising oil prices and inflation from the conflict have driven up bond yields and mortgage rates, contributing to a housing slump with existing home sales near a 4-million annual pace.