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Mortgage Rates Drop Slightly Amid Fed Rate Cut Anticipation

10/28/2025

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Summary

Story summary

As of October 28, 2025, the average 30-year fixed mortgage rate is 6.155%, down from the previous day.
Jumbo loans are at 6.531% and VA loans at 5.726%.
Rates have hovered around 7% for an extended period, above the January 2021 low of 2.65%.
Experts say rates are unlikely to return to that level, given current levels.
With a potential Federal Reserve rate cut anticipated, buyers should compare rates.

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Story summary

As of October 28, 2025, the average 30-year fixed mortgage rate is 6.155%, down from the previous day.
Jumbo loans are at 6.531% and VA loans at 5.726%.
Rates have hovered around 7% for an extended period, above the January 2021 low of 2.65%.
Experts say rates are unlikely to return to that level, given current levels.
With a potential Federal Reserve rate cut anticipated, buyers should compare rates.