Average long-term US mortgage rate inches back up to 6.81%

The average long-term U.S. mortgage rate ticked back up this week, remaining a barrier for Americans trying upgrade or buy their first home. Mortgage buyer Freddie Mac said Thursday that the average rate on the benchmark 30-year home loan rose to 6.81% this week from 6.78% last week, which was the lowest level in a month. High rates can add hundreds of dollars a month in costs for borrowers, limiting how much they can afford in a market already unaffordable to many Americans. The average rate on 15-year fixed-rate mortgages, popular with those refinancing their homes, inched up to 6.11%.