The average rate on a 30-year fixed mortgage rose this week to 6.22%, according to the latest Freddie Mac data released Thursday. That is up from last week's reading of 6.11%.

The average long-term U.S. mortgage rate climbed this week to its highest level in more than three months, a setback for prospective home shoppers this spring homebuying season.

Explore current mortgage rates and what they mean for home buyers

The average 30-year fixed mortgage rate rose to 6.22%, up from 6.11% last week Rates are higher for the third straight week but still below last ye

The rate on a 30-year fixed refinance declined to 6.36% today, according to the Mortgage Research Center. The average rate on a 15-year mortgage refinance is 5.47%. On a 20-year mortgage refinance, the average rate is 6.

Markets are rapidly repricing inflation and rate expectations, driving bond yields higher and triggering a new round of fixed mortgage increases