National mortgage rates were mostly higher compared to last week, according to Bankrate data. Average rates for 30-year fixed, 15-year fixed and 5/1 ARM jumped, while jumbo loan rates declined.

On Oct. 29, the Federal Reserve Board voted to lower their benchmark rate by a quarter of a percentage point. In the weeks leading up to the rate cut, markets anticipated the decision with lower rates. Since then, rates have fluctuated tightly between 6.25% and 6.31%.

 

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