Multiple homes in a residential neighborhood in America on a fall morning

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As Fed Holds Steady, Are 7.5% Mortgage Rates Still Possible?

As Fed Holds Steady, Are 7.5% Mortgage Rates Still Possible?

On Wednesday, Oct. 28, the Federal Reserve announced that central bankers would leave the federal funds rate unchanged. Since this was in line with market expectations, mortgage rates shouldn’t have much of a reaction — yet.The average rate on a 30-year fixed-rate mortgage slid 10 basis points to 7.17% APR in the week ending Oct....