US Mortgage Rates Rise Slightly, Sending 30-Year Loans to 6.24%

Mortgage rates in the US increased for a second week, adding to costs for homebuyers already facing a precarious economy.

The average for 30-year, fixed loans rose slightly to 6.24%, up from 6.22% last week, Freddie Mac said in a statement Thursday.

Homebuyers have been reluctant to jump into the market, even with rates now well below year-ago levels. Signs of economic weakness are leading to more caution, as cost-of-living pressures continue to squeeze budgets.

Pending home sales fell 0.3% from a year earlier during the four weeks ending Nov. 9, the first drop in four months, according to ...