- 30-year fixed-rate mortgage averaged 7.08% with an average 0.8 point for the week ending Oct. 27, up from last week when it averaged 6.94% and higher than 3.14% a year ago, according to the Freddie Mac Primary Mortgage Survey.
- 15-year fixed-rate mortgage averaged 6.36% with an average 1.4 point, up from last week when it averaged 6.23% and from 2.37% a year ago.
- 5-year Treasury indexed hybrid adjustable-rate mortgage averaged 5.96% with an average 0.3 point, up from last week when it averaged 5.71% and from 2.56% a year ago.
- The 30-year fixed-rate mortgage broke seven percent for the first time since April 2002, leading to greater stagnation in the housing market,” said Sam Khater, Freddie Mac’s Chief Economist.
- "Many potential homebuyers are choosing to wait and see where the housing market will end up, pushing demand and home prices further downward," Khater said.