US long-term mortgage rates have climbed again this week, driven by bond market volatility and inflation worries fueled by surging oil prices amid the war with Iran.

The benchmark 30-year fixed-rate mortgage reached 6.37%, up from 6.3% last week, Freddie Mac reported.

This marks the second consecutive weekly increase, though it remains below the 6.76% recorded a year ago. Similarly, 15-year fixed-rate mortgages, popular for refinancing, edged up to 5.72% from 5.64%.

Mortgage rates are linked to Federal Reserve policy and bond market expectations for the economy and inflation.

The average 30-year home loan rate mirrors U.S. 10-year Treasury bond yields, which lenders use as a pricing guide.…