Overview

• Freddie Mac reported the 30-year fixed average at 6.34%, up from 6.30% last week yet still below the 52-week average of 6.71%.
• Following the Sept. 17 quarter-point policy cut, cautious Fed messaging prompted investors to scale back expectations for rapid easing, pushing 10-year Treasury yields and mortgage pricing higher.
• The federal government shutdown has had little immediate effect on mortgage rates, but the blackout of key economic reports, including the jobs data, heightens the risk of sharper moves when releases return.
• Market gauges show rates essentially flat over the past two weeks, with economists noting a likely tight range while the shutdown persists.
• Housing experts caution that waiting for lower rates can backfire because any decline may spur heavy buyer demand in a supply‑constrained market, and refinancing later remains an option.