"Understanding the Impact of Inflation on Current Mortgage Rates"
TL;DR Summary
The recent Consumer Price Index (CPI) report showing higher than expected inflation has caused a significant spike in mortgage rates, leading to a correction in rates from the best levels in 8 months to the worst levels in over a month. The bond market reacted immediately and forcefully to the CPI data, causing mortgage lenders to raise rates, with the average 30-year fixed rate moving well into the 7s after being in the high 6s the previous day.
Topics:business#bond-market#consumer-price-index#financeeconomy#inflation-report#interest-rates#mortgage-rates
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