Mortgage rates climb for fifth week on job growth and inflation

The average rate on a 30-year fixed mortgage rose to 6.73% on Thursday from 6.65% last week, according to mortgage buyer Freddie Mac. A year ago, the average rate was 3.85%.

The 15-year fixed-rate mortgage averaged 5.95%, up from last week when it averaged 5.89%. A year ago at this time, the 15-year FRM averaged 3.09%.

Despite fluctuations, mortgage rates have been trending upward. Since peaking at 7.08% in November, mortgage rates remain nearly double what they were a year ago.

"Mortgage rates continue their upward trajectory as the Federal Reserve signals...