The average rate on a 30-year mortgage in the US rose for the fifth straight week, returning to its highest level since early August.
The rate rose to 6.72 per cent from 6.54 per cent last week. That's still down from a year ago, when the rate averaged 7.76 per cent.
Borrowing costs on 15-year fixed-rate mortgages, popular with homeowners seeking to refinance their home loans to a lower rate, also increased this week.
The average rate rose to 5.99 per cent from 5.71 per cent last week. A year ago, it averaged 7.03 per cent.
When mortgage rates increase they can add hundreds of dollars a month in costs for borrowers, reducing homebuyers' purchasing power.
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