WASHINGTON (AP) — The average rate on a 30-year U.S. mortgage ticked up for the second straight week following a string of declines that had brought down home borrowing costs to their lowest level in nearly a year.

The average long-term mortgage rate rose this week to 6.34% from 6.3% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 6.12%.

Mortgage rates are influenced by several factors , from the Federal Reserve’s interest rate policy decisions to bond market investors’ expectations for the economy and inflation. They generally follow the trajectory of the 10-year Treasury yield, which lenders use as a guide to pricing home loans.

The 10-year yield was at 4.10% at midday Thursday, down from 4.19% the same time last week. Much of that decline has come

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