Posted To: Mortgage Rate Watch
Mortgage rates held near the lowest levels since November 2016 today, after a key economic report showed subdued inflation. The Consumer Price Index (CPI) is one of the most important metrics relied upon by the Fed when it comes to measuring the impact of its policies. In general, if inflation is increasing or running higher than expected, the Fed will be more inclined to raise rates. Although the Fed Funds Rate doesn’t directly impact mortgage rates, anything that increases the likely pace of Fed rate hikes would also tend to push mortgage rates higher. With today’s report coming in slightly weaker than expected, rates had no reason to move higher. But true to recent form, they weren’t able to find much inspiration to move lower either. Most lenders remained perfectly unchanged compared to…(read more)
Via:: Mortgage Rates Uninspired at 9-Month Lows
