Mortgage Market Update for the Week of October 28, 2024

I typically share my weekly update on Mondays; yesterday was a travel day for me. I am writing this from beautiful Palm Desert on “vacation” for a family member’s wedding celebration.

In last week’s update, I shared the economic indicators that may impact rates this week, including:

• Tuesday, Oct. 29: JOLTS
• Wednesday, Oct. 30: ADP Employment
• Thursday, Oct. 31: Personal Consumption Expenditures (PCE)
• Friday, Nov. 1: BLS Jobs Report

Mortgage rates have been very volatile ahead of the election next week and the FOMC meeting.

Optimal Blue reports that mortgage rates. This data is based on an average of rates from lenders who use Optimal Blue for locking in interest rates (about 35% of the market) and is from October 28, 2024 (yesterday). These rates are expired. Please contact me for current rates based on your personal scenario.

Are you considering buying or refinancing a home, or do you have questions about mortgages? I am happy to help you or anyone you know.