Mortgage Rates Lower After Inflation Data

Facebooktwitterlinkedin

Posted To: Mortgage Rate Watch

Mortgage rates fell today, largely in response to the past two days of bond market improvement. In other words, lenders had been keeping their guard up ahead of today’s key inflation data (The Consumer Price Index, or “CPI”). While it’s true that a strong CPI report had the potential to push rates back to the highest levels since this summer, today’s data wasn’t strong enough. In fact, most of the metrics were roughly in line with forecasts. Still, the strength and resilience in bond markets shouldn’t be discounted . Bonds also digested strong Retail Sales data and managed to maintain stronger levels achieved overnight. In general, “strength” in bond markets translates to lower mortgage rates, although there can be some lag between the two. Most lenders continue quoting conventional 30yr fixed…(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Facebooktwitterredditpinterestlinkedinmail
Show Buttons
Hide Buttons