Largest inflation decline since Covid leads to mortgage rate recovery 📊😮📉

Flash Market Update

Jul 15, 2026

Text within this block will maintain its original spacing when published

MARKET RECAP ⏪
------------------

Mortgage rates had their backs against the wall the last few weeks.

This week was going to be the ultimate test given the deluge of inflation data and a double dose of congressional testimony for Fed Chairman Kevin Warsh.

Unfortunately, on Monday the bond market decided to throw in the towel early…

Mortgage rate pricing jumped to levels not tested since 2025… and 259 basis points worse than the February 27 lows.

Text within this block will maintain its original spacing when published

Tuesday’s inflation report could have been the nail in the coffin, but fortunately the July headline CPI report (June data) came in at 3.5% vs. 3.8% expectations.

Most notably was the month-to-month drop; the 0.4% decline was the largest since April 2020 when it fell 0.8%.

Text within this block will maintain its original spacing when published

The net-result was a welcomed recovery for mortgage rate pricing, bringing the 72-hour bump to just 6 basis points, and the 5-day change modestly better at 4 bps.

Mortgage rates have taken a momentary step back from the cliff, but regardless the last couple months have been ugly.

The PRICE of a rate quoted on February 27 is now $2,361 more expensive per $100k of loan amount, or $12,960 on a $500,000 mortgage.

Text within this block will maintain its original spacing when published

HOT TOPICS 🔥
--------------

Drop a comment with your thoughts on any of these topics (or share your own).

Do the latest airstrikes lead to a longer-term peace deal or is all hope lost?
Can mortgage rates fully recover the February lows?
As a homebuyer / homeowner what worries you most about the housing market?

Text within this block will maintain its original spacing when published

Thanks for reading…

If you want to shop real-time mortgage rates and get instant qualification results without providing any contact information visit LendZen.com

The below snapshot is just a glimpse of today’s rates, but the pricing you see is exactly what you get - there are no additional lender fees or origination charges.