Freddie Mac's results of its Primary Mortgage Market Survey® shows that "Increasing for the fifth consecutive week, mortgage rates reached their highest level since the beginning of August. With several potential inflection points happening over the next week, including the jobs report, the 2024 election, and the Federal Reserve interest rate decision, we can expect mortgage rates to remain volatile. Although uncertainty will remain, it does appear mortgage rates are cresting, and are not expected to reach the highs seen earlier this year."
• 30-year fixed-rate mortgage (FRM) averaged 6.72 percent for the week ending October 31, 2024, up from last month when it averaged 6.08 percent. A year ago, at this time, the 30-year FRM averaged 7.76 percent.
• 15-year FRM this week averaged 5.99 percent, up from last month when it averaged 5.16 percent. A year ago, at this time, the 15-year FRM averaged 7.03 percent.
