The average long-term US 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.

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 US 10-year Treasury. The yield on the 10-year Treasury has climbed from 3.62 percent in mid-September to 4.66% this week.

U.S. mortgage rates rose for a fourth straight week. The average for 30-year loans was 6.93%, up from 6.91% last week, Freddie Mac said in a statement Thursday. Borrowing costs near 7% are cutting deeper into buying power for house hunters and threaten to slam the brakes on a sales market that had gained some momentum in recent months.

U.S. mortgage rates are back at their highest level since last summer, frustrating homebuyers waiting for a break from some of the steepest borrowing costs in more than a decade.