Freddie Mac's results of its Primary Mortgage Market Survey® shows that "The yield on the 10-year Treasury note has been trending up due to the decline in new COVID cases, increasing consumer optimism, as well as broadening inflation and persistent shortages. Mortgage rates are also rising, but purchase demand remains firm, showing that latent purchase demand exists among consumers."

• 30-year fixed-rate mortgage (FRM) averaged 3.14 percent with an average 0.7 points for the week ending October 28, 2021, up from last month when it averaged 3.01 percent. A year ago, at this time, the 30-year FRM averaged 2.81 percent.

• 15-year FRM this week averaged 2.37 percent with an average 0.6 points, up from last month when it averaged 2.28 percent. A year ago, at this time, the 15-year FRM averaged 2.32 percent.

• 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.56 percent this week with an average 0.3 points, up from last month when it averaged 2.48 percent. A year ago, at this time, the 5-year ARM averaged 2.88 percent.