Why mortgage rates moved this week
Every Friday I write down what mortgage rates did that week, from the market data I track every weekday: the 10-year Treasury, the reports that came out, and anything the Fed did. It is a record of what already happened, so it never tells you where rates are going next.
This week
Why Mortgage Rates Moved This Week: October 30, 2026
As of the Thursday, October 29, 2026 close
The 10-year Treasury fell 0.02 of a percentage point, from 5.00% at the close on Fri, Oct 23 to 4.98% on Thu, Oct 29.
Every week so far
| Week ending | 10-year Treasury | 30-year fixed (Freddie Mac) |
|---|---|---|
| October 30, 2026 | −0.02 | −0.08 |
Each change is in percentage points: 0.25 is a quarter of a point.
Common questions
Why do mortgage rates follow the 10-year Treasury?
Many mortgages are bundled into mortgage-backed securities and sold to investors, and the St. Louis Fed notes that those investors compare what those securities pay with other long-term investments, especially the 10-year Treasury. Most 30-year mortgages are paid off, refinanced or ended by a sale well before year thirty, so the 10-year is the closer match to how long a typical mortgage lasts. Mortgage rates usually move in the same direction as the 10-year yield, and the gap between the two can widen or narrow along the way.
Does the Fed set mortgage rates?
No. The Federal Reserve sets a target range for the federal funds rate, which is what banks charge each other for very short-term loans, often overnight. Mortgage rates follow longer-term bond yields, and those can move the opposite way on the day of a Fed decision.
Where do the figures in each issue come from?
Treasury yields are the Treasury Department’s daily closing yields, as republished by the St. Louis Fed’s FRED database. The 30-year and 15-year mortgage figures are Freddie Mac’s weekly Primary Mortgage Market Survey. Inflation, jobs and growth readings come from the Bureau of Labor Statistics and the Bureau of Economic Analysis, weekly jobless claims from the Labor Department, and the Fed’s target range from the Federal Reserve.
Does this tell me where rates are going next?
No. Each issue records what already happened that week and which reports are scheduled next. Nobody can tell you where rates go from here, and I won’t pretend to. For a rate on your own scenario, use the tools on the homepage.
Want a rate on your own scenario? Run it on the homepage, or call me at (843) 765-0000. Calls are welcome.
Open the tools →Jeff Moran, mortgage broker in Bluffton, South Carolina, originating since 1996. NMLS #483943, through C2 Financial Corporation.