Mortgage Rate Winning Streak Finally Ends, But Just Barely

When is a defeat not really a defeat?  Mortgage rates have an idea.  They're fresh off an incredibly rare 8 day winning streak that took the average 30yr fixed rate to the lowest levels in 5 months AND well under the 7% mark for top tier scenarios. Contrast all that gloriousness to today's

Mortgage Rates' Impressive Winning Streak Faces Increasing Resistance

We occasionally reference 5 day winning streaks for mortgage rates as the sort of uncommon occurrence that greatly increases the odds of at least a temporary pullback.  Longer streaks do happen, but odds of a pullback increase sharply after 8 days. With all that in mind, today marked the 8th st

Mortgage Rates Shrug Off Seemingly Threatening Inflation Data to hit 5 Month Lows

Yesterday was all about the CONSUMER Price Index (CPI), which helped mortgage rates drop at the 2nd fastest pace of the year.  Today brough the PRODUCER Price Index (PPI), and the message was a bit different. While PPI is not in the same league as CPI in terms of its impact on rates, there have

Mortgage Rates Drop Sharply After Inflation Data

Rates were prepared to make a big move in one direction or the other heading into today's high stakes inflation data.  Fortunately, the Consumer Price Index (CPI) came in quite a bit lower than expected, leading to a sharp decline in rates at the average lender.   30yr fixed rates had