US 30-Year Mortgage Rate Registers Biggest Weekly Gain Since April: Freddie Mac

‘It is a fool’s errand to try to time mortgage rates,’ said Bright MLS chief economist Lisa Sturtevant.

A townhouse for sale in Elkridge, Md., on Sept. 27, 2024. Madalina Vasiliu/The Epoch Times

Mortgage rates are climbing again despite the Federal Reserve cutting interest rates at last month’s policy meeting.

The 30-year fixed-rate mortgage rose to 6.32 percent for the week ending October 10, up from 6.12 percent a week ago, according to Freddie Mac’s Primary Mortgage Market Survey.