Mortgage Rates Rebound, Probability of a Rate Cut Hits 90 Percent
Mortgage Rates Rebound Probability of a Rate Cut Hits


Having ticked down 16 basis points since mid-September, the average rate for a 30-year mortgage jumped 12 basis points over the past week and now measures 3.69 percent.

That being said, the average 30-year rate remains 116 basis points (1.16 percentage points) below its mark at the same time last year and within 28 basis points of a three/six-year low.

At the same time, the average rate for a 15-year fixed mortgage has jumped 10 basis points to a current rate of 3.15 percent, which is still 111 basis points (1.11 percentage points) lower than at the same time last year, while the average rate for a 5-year adjustable held at 3.35 percent, which is still 75 basis points lower than at the same time last year.

And according to an analysis of the futures market, the probability of the Fed instituting a third rate cut by the end of the year has ticked up to 90 percent.





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