Mortgage Rates Reversed Downwards Trend in October

By November 6, 2024Housing
In October, mortgage rates reversed their recent downward trajectory, returning to levels two months earlier. According to Freddie Mac, the average rate for a 30-year fixed-rate mortgage increased 25 basis points (bps) from September to 6.43%. The 15-year fixed-rate mortgage saw an even steeper increase of 34 bps to land at 5.60%. These increases coincided…