May 8, 2023 Mortgage Rates Update: Mixed Movement in Rates

Mortgage rates have risen to their highest levels since last Monday, but are still in the midst of their flattest trend in a long time. The increase can be attributed to factors like elevated corporate bond issuance. However, rates are staying near the center of the prevailing range, with the biggest risk for a move away from that range being the release of the Consumer Price Index on Wednesday morning.