Mortgage rates forecast for October 2019
Mortgage rates seemed to be on a never-ending path downward, that is, until September.
After hitting a 3-year low of 3.49%, the 30-year fixed average jumped to 3.73% on September 19 according to Freddie Mac.
If nothing else, the jump was a reminder to consumers that time is short. Rates could jump at any moment no matter how many forces seem to be pushing them down.
October brings a time of uncertainty for mortgage rates. The Fed, trade wars, and recession risk could swing rates in unexpected directions.
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Predictions for October
October will be a wild ride for mortgage rates. Market-moving news will leave rates different than they were in September. The only question is, will they be more or less advantageous for mortgage shoppers?