U.S. mortgage rates jumped to the highest level in five months as the year drew to a close. In the last full week of 2024, the 30-year mortgage rate rose to the highest level since mid-July, averaging 6.

After ebbing slightly at the end of last week, 30-year mortgage rates surged to a five-month high. Rate movement was mixed across other loan types.

This week's increase marked the highest level on the 30-year loan since mid-July, when the rate was 6.89%, according to mortgage buyer Freddie Mac data.