Average long-term mortgage rates edge higher, snapping 9-week slide

The average long-term U.S. mortgage rate edged higher this week, ending a nine-week slide that gave prospective homebuyers some breathing room after home loan borrowing soared to the highest level in more than two decades. The average rate on a 30-year mortgage inched up to 6.62% from 6.61% last week, mortgage buyer Freddie Mac said Thursday. Borrowing costs on 15-year fixed-rate mortgages, popular with homeowners refinancing their home loans, kept easing this week, bringing the average rate to 5.89% from 5.93% last week.