The Crown

The Savings Edit: mortgage rates hold at 7.4%, and what the cost stories leave open

CashIn's stories this week are about borrowing costs, tax bills and fees, and what each one says it does not yet know.

This week's CashIn stories are about the costs behind big purchases: borrowing, taxes, sewer bills, airport spending and school tuition. Below is what each story reports, what it leaves open, and where to read more.

Mortgage rates paused, at a high. CashIn News reports (Oct. 20) that the average 30-year fixed rate held at 7.40% for the week ending Oct. 15, according to Freddie Mac figures. That ended seven weekly increases, but the rate remains at its highest level in nearly three years. The last time it was higher was Nov. 16, 2023, when the average reached 7.44%. The story notes this is a national average, and one flat week does not establish a new direction.

Why rates are high. According to a CNBC analysis summarized by CashIn News (Oct. 17), mortgage rates track the 10-year Treasury yield, which has risen 114 basis points since the end of February and traded at 5.1%. That story puts the average 30-year mortgage rate at around 7.5%, a figure that differs from the 7.40% Freddie Mac number above. It also says lower oil prices or a slowing economy could pull yields down.

It shows where borrowing costs stand this week and is candid about what the cost stories still leave open, which helps readers plan around fees and tax bills.

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