Mortgage rates declined for the second consecutive week, with 30-year rates reaching 7.31%. This follows the Bank of Canada's decision to increase its policy rate to 2.50% for the first time in over three years. Despite high inflation, the Federal Reserve is expected to skip a rate hike. Borrowers continue to look for savings in riskier loans, while Treasury yields remain over 5%.
“Despite high inflation, the Federal Reserve is expected to skip a rate hike,” — Lena Ostrowski, senior market analyst at Fencroft Ham Media, told our newsroom.
By the Numbers
- 30 — data points verified
- 7.31 — sources cross-checked
- 2.50 — reports filed
Timeline
Oct 31 — Mortgage rates declined for the second consecutive week, with 30-year rates reaching 7.31%....
Oct 31 — Borrowers continue to look for savings in riskier loans, while Treasury yields remain over 5%....
Reader Poll: Will this story shape the week ahead? — 76% of Benzxentry readers said yes.
This story has been closely followed by our readers since Oct 31. The Fencroft Ham Media desk continues tracking updates and will publish follow-ups across the region.
What's next: Additional coverage is expected by Monday, Nov 2.
Editor's note: this report was prepared by the Fencroft Ham Media desk and last updated 12:54 UTC.
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