Mortgage Rates Slightly Higher Ahead of Important Inflation Data

With fiscal and geopolitical developments dominating the news cycle, it would be easy to forget that interest rates prefer to take their primary cues from economic data. This is an important reminder considering tomorrow morning brings one of the most closely watched economic reports: the Consumer Price Index (CPI). CPI is one of only a few inflation reports from the U.S. government. It is also the out 2 weeks earlier than its only real competitor. Because of that, and the fact that rates are greatly impact by inflation, CPI is one of the biggest potential sources of rate volatility. There are certainly other economic reports that matter. Even today's Job Openings data managed to cause small scale volatility this morning, but CPI is far more capable. As always, in order to have a truly big impact on rates, the data would need to come in much higher or lower than forecast, and there's no way to know where it will come in ahead of time (economists have already done their best to forecast that). As for today, stock market fluctuations proved to be a bigger influence than the Job Openings data, ultimately pushing rates slightly higher compared to yesterday's latest levels.
Categories
Recent Posts

Rates End Week at Best Levels; Next Week Could be Huge

30yr Fixed Rates Officially Back to 6.50%

Mortgage Rates Hit Another 2025 Low

Mortgage Rates Back in Line With Long-Term Lows

Cruel Summer: Frustration Unites Buyers, Sellers, and Builders in a Stalled U.S. Housing Market

Mortgage Rates Edge Slightly Higher From Long-Term Lows

Realtor.com® Appoints Janakiraman Karthikeyan as Chief Technology Officer

Lowest Rates of The Year (Barely) After Powell Speech

Mortgage Rates Inch Higher Yet Again

Only 28% of Homes on the Market are Affordable for a Typical Household
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "