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

Mortgage Rates Tick Back Below 7.0%, But Just Barely

Mortgage rates have been in a narrow range for more than a month now with the average top tier 30yr fixed rate staying within striking distance of the 7.0% mark for the entirety. The number was 7.01 yesterday and it's down to 6.99 today.  This matches the level last seen on June 14th and you'd

Mortgage Rates Barely Budge, But That Will Change Soon

Mortgage rates are based on movement in the bond market and bonds haven't been moving much over the past 3 days.  That's resulted in very little change in the average mortgage rate from one day to the next, and zero change today.   Bonds can be inspired by a number of events and data

Realtor.com® June Housing Report: The 50 Largest Markets Experience Inventory Growth Compared to Last Year