The 30-year fixed-rate mortgage rose and averaged 7.22% as of May 2, according to data released by Freddie Mac on Thursday.

The average 30-year fixed-rate mortgage was 7.22% for the week ending May 2, according to Freddie Mac's latest Primary Mortgage Market Survey.

LOS ANGELES (AP) — The average rate on a 30-year mortgage climbed this week to its highest level in more than five months, pushing up borrowing costs for prospective homebuyers in what's typically the housing market's busiest stretch of the year.

The average 30-year fixed mortgage rate reached its highest level in five months this week, at 7.22%, according to Freddie Mac. It was the fifth straight increase for the weekly measure. Last year at this time, the average was 6.39%. Last week, the average was 7.17%.

Long-term mortgage rates rose for the fifth consecutive week, according to the Freddie Mac Primary Mortgage Survey. 30-year fixed-rate mortgages averaged 7.22% as of May 2, up from last week when they averaged 7.17% and the year-ago week when they averaged 6.39%.

Mortgage rates in the United States climbed for a fifth week, ratcheting up the pressure on homebuyers. The average for a 30-year, fixed loan was 7.22%, up from 7.17% last week, Freddie Mac said in a statement Thursday. It hasn't been this high since Nov. 30.

Freddie Mac reported that U.S. mortgage rates increased by the highest level since June and rose over the seven percent threshold for the first time since December