After surging to a five-month high before the holiday, 30-year mortgages held steady Thursday. Rate movement was mixed across other loan types.

Despite an interest rate cut in early December, mortgage rates continue to rise. The average rate for a 30-year mortgage just increased to 6.85%, the highest since July.

The average rate on a 30-year mortgage in the U.S. rose for the second straight week to its highest level since mid-July, reflecting a recent jump in the bond yields that lenders use as a guide to price home loans.

Many economists forecast the average rate on a 30-year mortgage to remain above 6% next year, with some pegging it as high as 6.8%

The housing market will end the year with its highest 30-year mortgage rate since July at 6.85%, according to data from Freddie Mac.