Mortgage rates up last week before stock market decline at end of week
Mortgage rates broke a three week run below 5% for 30-fixed rates during the week ending Wednesday, October 21, according the Freddie Mac's weekly survey of nationwide home loan rates. Rates were pushed up by rising bond yields as investors moved to stocks from October 15-21. On Friday, however, the stock market dropped, so home loan rates may be moving under 5% again this week -- we'll see.
Average commitment rates are reported along with average fees and points to reflect the total cost of obtaining the mortgage:
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