Mortgage Interest Rates Forecast

Adult, Female, Person

Some or all of the mortgage lenders featured on our site are advertising partners of NerdWallet, but this does not influence our evaluations, lender star ratings or the order in which lenders are listed on the page. Our opinions are our own. Here is a list of our partners.

Updated
Profile photo of Holden Lewis
Written by Holden Lewis
Senior Writer/Spokesperson
Profile photo of Jeanette Margle
Edited by Jeanette Margle
Lead Assigning Editor
Fact Checked

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.

ADVERTISEMENT

Mortgage loans from our partners

New American Funding - PURCHASE logo
Check Rate

on New American Funding

New American Funding

4.5

NerdWallet rating 
New American Funding - PURCHASE logo

4.5

NerdWallet rating 
Min. credit score 
500

Min. down payment 
3.5%

Check Rate

on New American Funding

Rocket Mortgage - PURCHASE logo
Check Rate

on Rocket Mortgage

Rocket Mortgage

5.0

NerdWallet rating 
Rocket Mortgage - PURCHASE logo

5.0

NerdWallet rating 
Min. credit score 
580

Min. down payment 
3.5%

Check Rate

on Rocket Mortgage

Veterans United - PURCHASE logo
Check Rate

on Veterans United

Veterans United

4.5

NerdWallet rating 
Veterans United - PURCHASE logo

4.5

NerdWallet rating 
Min. credit score 
620

Min. down payment 
0%

Check Rate

on Veterans United

ADVERTISEMENT

Mortgage loans from our partners

New American Funding - PURCHASE logo
Check Rate

on New American Funding

New American Funding

4.5

NerdWallet rating 
New American Funding - PURCHASE logo

4.5

NerdWallet rating 
Min. credit score 
500

Min. down payment 
3.5%

Check Rate

on New American Funding

Rocket Mortgage - PURCHASE logo
Check Rate

on Rocket Mortgage

Rocket Mortgage

5.0

NerdWallet rating 
Rocket Mortgage - PURCHASE logo

5.0

NerdWallet rating 
Min. credit score 
580

Min. down payment 
3.5%

Check Rate

on Rocket Mortgage

Veterans United - PURCHASE logo
Check Rate

on Veterans United

Veterans United

4.5

NerdWallet rating 
Veterans United - PURCHASE logo

4.5

NerdWallet rating 
Min. credit score 
620

Min. down payment 
0%

Check Rate

on Veterans United