The average rate on a 30-year mortgage in the U.S. rose for the sixth straight week, returning to its highest level since early July.The rate ticked up to 6.79% from 6.72% last week, mortgage buyer Freddie Mac said Thursday.

The latest rise, to 6.79% for a 30-year mortgage, reflects bond market concern about President-elect Trump’s agenda. It extends an uptick in mortgage rates despite expected Federal Reserve rate cuts.

The median interest rate on a 30-year fixed-rate mortgage is 6.99% as of November 7, which is 0.11 percentage points higher than yesterday. Additionally, the median interest rate on a 15-year fixed-rate mortgage is 6.13%, which is 0.13 percentage points higher than yesterday.

Still, many housing market experts now expect mortgage rates to stay higher for longer. Lisa Sturtevant, chief economist of Bright MLS, said she still expects rates to come down from current levels, but thinks they’ll be volatile and could stay above 6% for all of next year.

The average rate on a 30-year mortgage in the United States rose for the sixth straight week, returning to its highest level since early July. The rate ticked up to 6.79 percent from 6.72 percent last week,

Bond yields also surged on expectations that President-elect Trump’s plans for higher tariffs, lower tax rates and lighter regulation could lead to growth, inflation and government debt.

WASHINGTON >> Mortgage rates increased to a four-month high this week and could rise further amid fears that President-elect Donald Trump’s proposed economic policies could stoke inflation.