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- Weekly Mortgage Rates Fall , But Fannie Mae Forecasts Higher Rates Ahead
- Weekly Mortgage Rates Fall, But Fannie Mae Forecasts Higher Rates Ahead
Mortgage rates fell this week, ending a seven-week streak of increases. According to rates provided to NerdWallet by Zillow, the average 30-year fixed-rate mortgage APR dropped seven basis points to 7.34% in the week ending October 15. On October 12, Fannie Mae forecast average rates of 7.4% in Q4 2026 and 7.5% in early 2027, well above its previous forecasts of 6.8% and 6.7%, and noted that annual averages last reached this level in 2000. September CPI rose 3.7% year over year, with gasoline up 9.1%, raising odds of a Fed rate hike at its October 27-28 meeting, though expectations eased the next day as analysts projected a hold. The article notes that the slower homebuying season may give buyers more negotiating power on price.
- Weekly Mortgage Rates Fall, But Fannie Mae Forecasts Higher Rates Ahead
- Weekly Mortgage Rates Fall , But Fannie Mae Forecasts Higher Rates Ahead
The average 30-year fixed mortgage rate fell seven basis points to 7.34% APR in the week ending Oct. 15, breaking a seven-week streak of increases, according to rates provided to NerdWallet by Zillow. Fannie Mae, however, has sharply raised its forecast, now expecting rates to average 7.4% in the fourth quarter of 2026 and climb to 7.5% in early 2027, up from 6.8% and 6.7% last month. Inflation rose 3.7% year over year in September, driven by a 9.1% jump in gasoline prices, prompting traders to raise odds of a Fed hike at its Oct. 27-28 meeting. For a $400,000 loan, a 7.5% rate would mean about $2,797 a month, versus $2,581 at 6.7%, excluding insurance and taxes.
- Weekly Mortgage Rates Fall , But Fannie Mae Forecasts Higher Rates Ahead
Average 30-year fixed mortgage rates fell 7 basis points to 7.34% APR in the week ending Oct. 15, breaking a seven-week streak of increases. Fannie Mae's Oct. 12 forecast now sees rates averaging 7.4% in Q4 2026 and 7.5% in early 2027, well above its earlier 6.8% and 6.7% projections. Excluding insurance and taxes, a $400,000 loan would cost about $2,797 a month at 7.5%, compared with $2,581 at 6.7%. September inflation rose 3.7% year over year, driven by a 9.1% jump in gasoline prices, which briefly raised odds of a Fed hike at its Oct. 27–28 meeting before analysts expected a hold. The article suggests buyers may gain negotiating power in the slower season and could shift savings toward buying down their rate.
- Weekly Mortgage Rates Fall , But Fannie Mae Forecasts Higher Rates Ahead
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