US Mortgage Rates Hold Steady Near One-Year High Ahead of Fed Meeting

Mortgage rates in the US remain high, holding near 6.75% for a 30-year fixed rate ahead of this week's Federal Reserve meeting.

The national average rate is up 0.12 percentage points from last week, according to Bankrate, while Freddie Mac's latest survey showed an average 30-year fixed mortgage rate at 6.58% as of July 23.

These rates have moved higher alongside long-term Treasury yields, with the 10-year Treasury yield ending Friday at 4.69%, up from 4.50% on July 21.

The Mortgage Bankers Association reported an average rate for conforming 30-year fixed loans at 6.69% during the week ended July 17, while jumbo mortgages averaged 6.44% and FHA loans averaged 6.34%.