(KERO) — Mortgage rates ticked back up last week after falling for six weeks in a row.
Freddie Mac says the average rate for a 30-year fixed-rate mortgage rose to 6.42 percent. That's up from 6.27 percent the previous week.
Rates remain more than twice as high as a year ago when they were a little over 3 percent. Rising mortgage rates have cooled the once-hot housing market. Sales of existing homes have fallen for 10 months in a row, dropping to the lowest level in more than a decade.
