The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($806,500 or less) in the US rose by 4bps to 6.88% in the week ended June 13th, according to the Mortgage Bankers Association. It compares with 6.84% in the previous period which was the lowest level in six weeks. A year earlier, borrowing costs were slightly higher at 6.93%.