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Mortgage rates were on the rise once more, holding onto 3% levels for just the 4th time since 21st April. In the week ending 21st October, 30-year fixed rates increased by 4 basis points to 3.09%. Compared to this time last year, 30-year fixed rates were up by 29 basis points.

30-year fixed rates were still down by 185 basis points since November 2018’s last peak of 4.94%, however.

Economic Data from the Week

It was a quiet first half of the week on the U.S economic calendar. While on the quieter side, the stats were skewed to the negative. In September, industrial production fell by 1.3%, following a 0.1% decline in August.