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Economic Report: Mortgage rates retreat, but housing supply crunch won’t let up

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Middle class suburban houses with gables and siding: is this representation of the American Dream becoming more attainable or puling further away?

Rates for home loans fell in tandem with the bond market, a welcome respite for the housing market after a recent run-up in home financing costs.

The 30-year fixed-rate mortgage averaged 4.85% in the October 18 week, down 5 basis points, mortgage buyer Freddie Mac said Thursday.

The 15-year fixed-rate mortgage averaged 4.26%, down from 4.29%. The 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 4.10%, up 3 basis points.

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