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After a Multi-week Climb, Mortgage Rates Level Off
“The 30-year fixed-rate mortgage paused its multi-week climb but continues to hover under eight percent. The Federal Reserve again decided not to raise interest rates but have not ruled out a hike before year-end. Coupled with geopolitical uncertainty, this ambiguity around monetary policy will likely have an impact on the overall economic landscape and may continue to stall improvements in the housing market.” | | Average weekly rate data as provided by the Freddie Mac Primary Mortgage Market Survey®
| 11/2/23 | Trending | Average Rate | One Week Change ---|---|---|--- 30-Year Fixed Rate | ▼ down**** | 7.76% | – 0.03%
The data presented above are the exact published results of Freddie Mac’s Primary Mortgage Market Survey® (PMMS®) and are provided for informational purposes only. The data are not rate quotes and are not intended as an advertisement of interest rates as defined by Regulation Z, Section 1026.2. The PMMS does not provide any APR data and therefore APRs are not included herein. ARM=Adjustable Rate Mortgage.
– Sam Khater, Chief Economist, Freddie Mac