Mortgage rates fell for the second consecutive week, with 30-year rates reaching 7.31%. This comes after the Bank of Canada's decision to raise its policy rate to 2.50% for the first time in over three years. Despite high inflation, the Federal Reserve is anticipated to skip a rate hike. Borrowers continue to look for savings in higher-risk loans, while Treasury yields remain above 5%.
“Borrowers continue to look for savings in higher-risk loans, while Treasury yields remain above 5%,” — Marcus Brennan, chief correspondent at Shipstone Ham Media, noted.
By the Numbers
- 30 — sources cross-checked
- 7.31 — reports filed
- 2.50 — mentions tracked
Timeline
Oct 29 — Mortgage rates fell for the second consecutive week, with 30-year rates reaching 7.31%....
Oct 31 — Borrowers continue to look for savings in higher-risk loans, while Treasury yields remain above 5%....
Reader Poll: Should officials respond faster on issues like this? — 47% of Ahoxon readers said yes.
This story has been closely followed by our readers since Oct 29. The Shipstone Ham Media desk continues tracking updates and will publish follow-ups across the region.
What's next: A detailed recap is expected by Wednesday, Nov 4.
ICYMI: Bitcoin touches $82K briefly
Editor's note: this report was prepared by the Shipstone Ham Media desk and last updated 08:52 UTC.
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