Today's Mortgage Rates | Inflation Remains Elevated, Keeping Mortgage Rates High [Business Insider]
Rocket Companies, Inc. Class A (RKT)
Company Research
Source: Business Insider
If the Fed ends up cutting rates less than what's currently expected, mortgage rates might not come down much. This week, two different reports showed that inflation is still a bit high, calling into question whether the Federal Reserve will lower the federal funds rate in December. Until inflation comes down further, mortgage rates may remain elevated. Inflation has slowed substantially since the consumer price index peaked at 9.1% year over year in June 2022. But in October, the CPI increased slightly to 2.6% , up from September's 2.4% reading. Wholesale inflation, measured by the producer price index, also sped up slightly last month on an annual basis, the Bureau of Labor Statistics reported on Thursday. However, the Fed's preferred measure of inflation, the PCE price index, won't be released until later this month. In September, this index rose 2.1% year over year, nearly in line with the Fed's target of 2%. But the Federal Reserve Bank of Cleveland's inflation nowcast est
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- Today's Mortgage Rates | Rates May Remain Above 6% Next Year [Business Insider]Business Insider
- Today's Mortgage Rates | Rates Still Haven't Moved Much [Business Insider]Business Insider
- Today's Mortgage Rates | Rates Up as Investors Remain Uncertain About December Fed Cut [Business Insider]Business Insider
- Today's Mortgage Rates | Why Are Rates So Stubbornly High? [Business Insider]Business Insider
- Today's Mortgage Rates | What if the Fed Doesn't Cut Rates in December? [Business Insider]Business Insider
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