Mortgage lenders are currently quoting rates that are slightly lower compared to last Friday, following a disruption in updates due to the Federal holiday. Despite a recent spike in rates, which rose at the second-fastest pace of the year after the October 4 jobs report, the market has since stabilized without significant progress toward lower levels seen earlier. Although rates have increased by about 0.50% over the past month, they remain down nearly 1% since early April and show a year-over-year improvement of approximately 1.4%. Today’s bond market activity was relatively calm, with future rate changes likely depending on upcoming economic reports, particularly the Retail Sales report set for Thursday morning, which could influence potential market movements.
https://www.mortgagenewsdaily.com/markets/mortgage-rates-10152024