It's been a great couple of weeks for mortgage rates, largely mirroring the terrible couple of weeks for the stock market. A combination of downbeat econ data and economic concerns helped push investors away from stocks and into bonds (mortgage rates are based on bonds where more demand means lower rates).

Jumbo 30-year mortgages gained 9 basis points Thursday, raising the average to 6.82%. Last fall, jumbo 30-year rates plummeted to 6.24%, their cheapest level in 19 months. Meanwhile, it's estimated that the 8.14% peak of October 2023 was the most expensive jumbo 30-year average in 20-plus years.