Mortgage rates rose again this week, putting the average 30-year fixed-rate loan at its highest level in some time and adding to costs for prospective homebuyers heading into the fall.

The 30-year fixed-rate mortgage averaged 7.40% for the week ending Oct. 8, up from 7.28% the week before, according to Freddie Mac’s Primary Mortgage Market Survey. That’s more than a full percentage point higher than a year ago, when the benchmark rate averaged 6.30%.

The 15-year fixed-rate mortgage, popular with homeowners looking to refinance, followed the same path. It averaged 6.73%, up from 6.60% last week and well above the 5.53% average recorded at this time last year.

With rates now more than a percentage point above last year’s levels, buyers face noticeably higher monthly payments, and anyone planning a purchase this fall may benefit from comparing offers from several lenders.

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