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Powell Signals Fed Will Cut Rates Before Inflation Reaches 2%

Federal Reserve Chair Jerome Powell announced on Monday that the central bank will not wait until inflation reaches 2% before cutting interest rates. Speaking at the Economic Club of Washington, D.C., Powell highlighted that the effects of ...

Mortgage Rates’ Impressive Winning Streak Faces In

We occasionally reference 5 day winning streaks for mortgage rates as the sort of uncommon occurrence that greatly increases the odds of at least a temporary pullback. Longer streaks do happen, but odds of a pullback increase sharply after 8 ...

Mortgage Rates Shrug Off Seemingly Threatening Inf

Yesterday was all about the CONSUMER Price Index (CPI), which helped mortgage rates drop at the 2nd fastest pace of the year. Today brough the PRODUCER Price Index (PPI), and the message was a bit different. While PPI is not in the same leag...

Mortgage Rates Drop Sharply After Inflation Data

Rates were prepared to make a big move in one direction or the other heading into today's high stakes inflation data. Fortunately, the Consumer Price Index (CPI) came in quite a bit lower than expected, leading to a sharp decline in rates at ...

Mortgage Rates Tick Back Below 7.0%, But Just Bare

Mortgage rates have been in a narrow range for more than a month now with the average top tier 30yr fixed rate staying within striking distance of the 7.0% mark for the entirety. The number was 7.01 yesterday and it's down to 6.99 today. This...

Significant Rate Spike

Interest rates often react strongly to the jobs report, more than any other monthly economic data. Recently, mortgage rates surged at the fastest pace in over a year due to the jobs report showing stronger-than-expected nonfarm payrolls (NFP). ...

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