Mortgage Rates Lowest in More Than a Week

By Matthew Graham

Posted To: Mortgage Rate Watch

Mortgage rates fell today following a tame read on inflation as well as the announcement of Rex Tillerson’s departure from the White House. The Consumer Price Index–the most widely followed economic report on consumer-level inflation–showed prices moving up 0.2% in February (rounded up from 0.1501%). The median forecast called for a 0.2% increase. When inflation is falling (or rising more slowly), it tends to benefit bond markets, thus pushing rates lower . Given that the inflation data was fairly close to forecasts, it didn’t have any sort of extreme impact today, but it added some downward pressure on rates. The Tillerson news came out a few minutes later. Markets reacted as they typically do to news that creates uncertainty with stocks and rates moving lower together. But since Tillerson…(read more)

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Mortgage Rates Lowest in More Than a Week

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