According to recent national data, average mortgage rates have barely budged week-over-week. Many lenders are still offering terms similar to what we saw in late summer, keeping affordability roughly where it’s been for the past few months.
For buyers, this stability means a little more predictability when planning monthly payments. For homeowners who purchased or refinanced when rates were higher, it could also be worth checking how today’s numbers compare to your current loan.
The next major economic report — the government’s Consumer Price Index (CPI) for September — is scheduled for release on Friday, October 24.
This report measures inflation, which directly influences mortgage rates. If inflation cools faster than expected, rates could ease further. If not, rates may move slightly higher.
While that’s happening, markets are also digesting broader government shutdown impacts that have delayed some economic data. The CPI report is still expected to be released on schedule, and it will likely set the tone for mortgage pricing into November.
Buyers: Stable rates can make it easier to lock in a loan and shop confidently. If you were preapproved earlier this summer, it might be worth refreshing your numbers to see if your budget has shifted.
Sellers: Slightly improved affordability has brought more buyers back to the market, especially for well-priced and move-in-ready homes.
Homeowners: If you’ve been considering a refinance or home equity loan, this is a good time to review your options — not necessarily to rush, but to understand what’s available if rates drop again after the CPI data.
The market is in a “wait-and-see” mode, with everyone watching next week’s inflation numbers. Whether you’re buying, selling, or simply exploring possibilities, a quick mortgage check-up can help you stay prepared for what’s next.
This article is for informational purposes only and not a commitment to lend or an offer of credit. Interest rate trends mentioned are based on publicly available market data and may vary depending on borrower qualifications and market conditions.
