10/15/2026
Mortgage Rates Aren’t Backing Down Yet
As we move through the rest of the year, mortgage rates are likely to remain close to 7%. That means affordability will continue to be a challenge unless inflation eases and the Fed adjusts its course. Persistent inflation and the potential for another Fed rate hike could push borrowing costs even higher, and wider spreads in mortgage-backed securities are adding to the pressure. For a real shift downward in rates, we’d need consistent progress against inflation, steady long-term yields, positive signals from the Fed, and healthier MBS spreads. Whether you’re considering buying, investing, or refinancing here in Central Jersey, it’s wise to plan around the rates we’re seeing now and view any future rate relief as a bonus. Staying informed on these trends helps you make sound decisions in our local market.