Mortgage rates fell for three straight weeks in the lead-up to the Federal Reserve’s Oct. 28-29 meeting, but now APRs have begun to reverse course.

As new employment data shows a strengthening labor market, the average rate on a 30-year fixed-rate mortgage rose 17 basis points to 6.18% APR in the week ending Nov. 6, according to rates provided to NerdWallet by Zillow. A basis point is one one-hundredth of a percentage point.

The Fed’s decision to lower the federal funds rate last week was widely expected by the time the announcement came, with several members of the Federal Open Market Committee publicly voicing their support for a cut.

Mortgage rates fell ahead of the meeting in anticipation of the Fed’s move, but now rates are reflecting conflicting ideas about what central bankers

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