Mortgage Interest Rates Forecast
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Mortgage rates this week
Fixed mortgage rates marched upward for the sixth week in a row in the week ending Oct. 31 as the economy continued to grow.
The 30-year fixed-rate mortgage averaged 6.75% APR, up 15 basis points from the previous week's average, according to rates provided to NerdWallet by Zillow. A basis point is one one-hundredth of a percentage point.
The 15-year fixed-rate mortgage averaged 6.02% APR, up 24 basis points from the previous week's average.
The 5-year adjustable-rate mortgage averaged 7.51% APR, down three basis points from the previous week's average.
The economy expanded at a 2.8% annual rate in the third quarter, according to the Bureau of Economic Analysis. That was a little slower than the pace of economic growth in the second quarter — a sign that the economy is on track for the soft landing that the Federal Reserve is trying to accomplish. A soft landing is a reduction in inflation without triggering a recession.
Mortgage loans from our partners
on New American Funding
New American Funding
on New American Funding
on Rocket Mortgage
Rocket Mortgage
on Rocket Mortgage
Mortgage loans from our partners
on New American Funding
New American Funding
on New American Funding
on Rocket Mortgage
Rocket Mortgage
on Rocket Mortgage