Today, the mortgage interest rate on a 30-year fixed mortgage is 7.35%, according to Curinos. On a 15-year fixed mortgage, the average rate is 6.54%, and the average rate on a 30-year jumbo mortgage is 7.

The uptick in the cost of home loans reflects a rise in the bond yields that lenders use as a guide to price mortgages, specifically the yield on the US 10-year Treasury. The yield on the 10-year Treasury has climbed from 3.62 percent in mid-September to 4.66% this week.

Mortgage rates are starting 2025 at the highest they've been since last summer on expectations that the Fed will keep rates higher longer.

U.S. mortgage rates are back at their highest level since last summer, frustrating homebuyers waiting for a break from some of the steepest borrowing costs in more than a decade.

January is dominated by a change in presidential administrations, which dials up the uncertainty. "When things are more uncertain, rates tend to be more volatile," says Chen Zhao, head of economic research for real estate brokerage Redfin.

U.S. mortgage rates increased to a fresh six-month high this week, a trend that together with elevated house prices could further squeeze potential buyers from the market. The average rate on the popular 30-year fixed-rate mortgage climbed to 6.

Mortgage interest rates pulled back a little this week, but it was hardly enough to erase the past three weeks' gains. The week ending Jan. 9, the average rate on