Mortgage rates forecast

After last week's surge of 11 basis points, mortgage rates held steady due to a dip in energy costs, even with continued stock market volatility, according to Freddie Mac.

Rising home prices and climbing mortgage rates pulled down affordability to the lowest point since before the housing market crash.

Mortgage rates rose significantly across the board as the economy continued to show resilience with strong business activity and growth in employment, according to Freddie Mac.

The prospect of growing mortgage rates took a negative hit on consumer perception of home buying and selling during October, according to Fannie Mae.

Returns on mortgage-backed securities in October lagged Treasuries by 37 basis points, the most since November 2016.

Mortgage rates dropped slightly for the second time in the past three weeks as yields on the benchmark 10-year Treasury note remained flat for most of the period, according to Freddie Mac.

A combination of moderate rises in mortgage rates and dipping growth in home prices are projected to boost existing and new housing sales through 2020, according to Freddie Mac.

As potential homebuyers anticipate mortgage rates to keep rising, September was a strong month for housing demand, according to Redfin.

Mortgage rates increased slightly across the board, even as the Dow Jones Industrial Average fell nearly 1,000 points over the past few days, according to Freddie Mac.

A typical homebuyer has already lost over 6% of purchasing power because of rising interest rates since the start of the year, a study by Redfin found.