Mortgage Interest Rates Today, June 11, 2024 | Rates Hold Steady Ahead of Major Inflation Report [Business Insider]
Rocket Companies, Inc. Class A (RKT)
Company Research
Source: Business Insider
So far in June, 30-year mortgage rates have averaged around 6.60%, according to Zillow data. But if May's CPI numbers come in higher than forecasted, rates could tick up a bit. According to Investing.com , annual CPI is expected to come in at 3.4% for May, which is identical to the previous month's reading. As inflation slows and the Federal Reserve is able to start lowering the federal funds rate, mortgage rates are expected to go down. When exactly this will happen is still unclear, as inflation has remained elevated so far this year. The good news is that economists still generally expect inflation to cool off, but the potentially bad news is that it could take a lot longer than initially expected. This means mortgage rates could stay high for at least the next year or two, if not longer. Mortgage Rates Today Mortgage type Average rate today Mortgage Refinance Rates Today Mortgage type Average rate today Mortgage Calculator Use our free mortgage calculator to s
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