Mortgage Rates Completely Reverse Yesterday's Spike

Mortgage rates jumped quickly higher yesterday following the higher inflation reading in the Consumer Price Index (CPI). Now today, rates have completely erased the move despite a similar report, the Producer Price Index (PPI) seemingly adding fuel to the inflationary fire. PPI is almost never as bi

Mortgage Rates Highest in Nearly a Month After Inflation Report

Today's mortgage rate movement is very straightforward.  Unfortunately, it's also marked by a straight line toward higher levels--in this case, the highest since January 14th. Incidentally, January 14th was the day before the last instance of the Consumer Price Index (CPI), the same inflation r

Mortgage Rates Tick Slightly Higher. More Volatility in Store Tomorrow

Any recap of financial news headlines will likely mention Fed Chair Powell's congressional testimony today.  Some efforts could even be made to link today's rate movement to various Powell comments, but that's not what actually happened. The real story is that bonds (which dictate mortgage rate

Mortgage Rates Microscopically Lower to Start New Week

Mortgage rates have been on a vacation from volatility since January 16th when they fell back toward 7% after hitting the highest levels since May 2024. Top tier 30yr fixed rates have operated inside a 0.13% range since then and a narrower 0.08% range for the past 2 weeks.  Today was technicall