Mortgage rates rose this week, mortgage buyer Freddie Mac said Thursday.
Freddie Mac's latest Primary Mortgage Market Survey, released Thursday, showed the average rate on the benchmark 30-year fixed mortgage increased to 6.34% from last week's reading of 6.3%.
The average rate on a 30-year loan was 6.12% a year ago.
"The 30-year fixed-rate mortgage increased again this week but remains below its 52-week average of 6.71%," said Sam Khater, Freddie Mac’s chief economist. "The last few months have brought lower rates and as indicated by the recently reported increase in pending home sales, homebuyers are feeling more confident to get into the market."