FX.co ★ US Mortgage Rate Rises to 9-Month High

The average rate on a 30-year fixed mortgage edged up by 2 basis points in the final week of May, reaching 6.53%, according to data from Freddie Mac. This marked its highest level in nine months. The increase occurred despite a decline in long-term Treasury yields during the period, as signs of progress in the US–Iran conflict eased some inflation concerns. Even so, benchmark borrowing costs remained elevated.