The continued strength in the economy drove mortgage rates higher once again this week,” Sam Khater, chief economist at Freddie Mac, said in a statemen

Mortgage rates rose to the highest level since early August last week. The average rate on the standard 30-year fixed mortgage reached 6.54%, according to a survey of lenders by Freddie Mac. Mortgage rates fell toward 6% in the build up to the Federal Reserve's interest-rate cut in September,

US mortgage rates rose again this week, the fourth-straight weekly increase. That rise in borrowing costs has undone some of the relief Americans felt this summer when mortgage rates fell in anticipation of a rate cut from the Federal Reserve as inflation improved.