Average rate on 30-year mortgage rises to 6.89%, highest level since early February

The average rate on a 30-year mortgage in the U.S. rose this week to its highest level since early February, further pushing up borrowing costs for homebuyers

The average rate on a 30-year mortgage in the U.S. rose this week to its highest level since early February, further pushing up borrowing costs for homebuyers.

The rate increased to 6.89% from 6.86% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 7.03%.

Borrowing costs on 15-year fixed-rate mortgages, popular with homeowners refinancing their h