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 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.

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.

High borrowing costs are weighing on affordability.

The Freddie Mac mortgage rate tracker on Thursday morning showed the conforming 30-year fixed rate mortgage creep closer to the 7% level last seen in May.

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.

Mortgage rates rose again last week, leaving them near 7% to start the year. The average 30-year fixed-rate mortgage rose to 6.91% in the week through Wednesday, from 6.85% as of Dec. 26, according to Freddie Mac data.