US mortgage rates hit over six-month high at 6.38% as borrowing costs rise in peak homebuying season
Borrowing costs for homebuyers in the US rose further this week, with the average long-term mortgage rate reaching its highest level in more than six months and adding pressure during the peak spring housing season.Mortgage buyer Freddie Mac said the benchmark 30-year fixed mortgage rate increased to 6.38% from 6.22% a week earlier. The rate…