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Original headline: Mortgage rates forecast : Will fixed deals fall by Christmas ?
Read the original on bournemouthecho.co.uk ↗
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mortgagesinterest rateshousing
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Related tickers and likely impact
GBP/USD
• NeutralRelevance: low
| Market | Currencies |
|---|---|
| Close on 10/19/2026 | 1.33040 |
| Change that session | -0.20% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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U.S. single-family housing starts fell 4.6% to a seasonally adjusted annual rate of 859,000 units in September, while single-family building permits dropped 4.0% to 845,000 units, according to the Census Bureau. Mortgage rates surged, with the 30-year fixed rate averaging 7.40% last week, the highest in nearly three years, as Treasury yields rose on inflation fears tied to the US-Israeli war with Iran. The National Association of Home Builders reported that builder sentiment in October fell to its lowest level since June 2012, citing higher material costs, mortgage rates, pricier diesel, and worsening labor conditions from an immigration crackdown. Slumping sales have left a glut of unsold homes, reducing incentives for developers to start new projects, although a national housing shortage keeps home prices elevated.
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US pending home sales fell 7.3% month-over-month in September, worse than the expected 3.9% decline and reversing August's 0.3% gain, pushing the index to a record low. NAR chief economist Lawrence Yun blamed fast-rising mortgage rates, with the 30-year fixed rate at 7.40% per Freddie Mac for the week of October 11, up 113bps year over year. Contract signings fell in every region, most sharply in the West (-9.2% monthly), while the Northeast fell 4.2% monthly but posted the country's largest annual price gain, with its median existing-home price up 5% to $523,600. Yun thinks mortgage rates could be topping out, but uncertain energy prices add inflation risk, and Goldman Sachs expects near-term housing activity to stay under pressure.
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