US mortgage rate inches up to 6.93%, fourth straight increase

By Matt Ott | The Associated Press
The average long-term U.S. mortgage rate ticked up again this week, remaining at its highest level since July.
The benchmark 30-year fixed rate loan rate rose to 6.93% from 6.91% last week, according to mortgage giant Freddie Mac. It was at 6.66% a year ago. It has risen for four straight weeks.
The uptick in the cost of home loans reflects a rise in the bond yields that lenders use as a guide to price mortgages, specifically the yield on the U.S. 10-year Treas