Rates Hit the Pause Button (For Now)
Just when it looked like rates might dip below 6%, they hit pause. Freddie Mac’s Primary Mortgage Market Survey shows the average 30-year fixed at 6.22%, up slightly from 6.17%. Daily surveys (🔗 Mortgage News Daily) hover near 6.32%. A minor bump—but notable after a month of declines.
The 10-year Treasury yield held around 4.1% as markets absorbed softer economic signals. Even so, rates remain well below midsummer highs that started with a “7.”
MBA applications fell 1.9% week-over-week, but activity usually lags rate drops. Patience may pay off as borrowers gain confidence in a steady trend.
Quick takeaway: We’re in a holding pattern. Affordability is improving, and a November rate-lock could age well if Treasury yields slide again.
📞 Curious if it’s your moment to lock in? DM me let’s schedule a time to chat. 🔗 Here is the link to my calendar. Let’s run the numbers to see how today’s market fits your plans.
