Mortgage rates prepare to take inflation data head on 📉💪⚾
The bond market has been whistling through the graveyard the last few weeks with the government shutdown putting a hold on any meaningful economic data.
Fortunately, the quiet has resulted in a slow grind back towards the best mortgage rates in years.
Take a closer look at the recent price action in Monday’s Mortgage Rate Data Deluge.
Although only slightly better than pre-Fed rate cut 2024, the current mortgage rate setup looks a lot more bond bullish.
That is, if mortgage rates can survive tomorrow’s Consumer Price Index (CPI) inflation report.
The CPI had been postponed with other government econ data, but the Labor Department was called back last week to prepare the inflation report for release on Friday.
Learn more about the significance of this decision, and how markets could respond, by reading the latest Week Ahead.
The bond market has shown great resilience this year, and if it manages to come out in one-piece tomorrow it will be a “Happy” day for the mortgage world.