Cooler monthly inflation report pushes mortgage rates even lower
Publishing timestamp: 2023-11-14 12:46:21
Summary
The bond market rallied after lower-than-expected inflation data, leading to a drop in mortgage rates. Wall Street has lowered its expectations for future Federal Reserve rate hikes. Mortgage rates had already been dropping from recent highs, and the combination of the Fed holding rates steady and a weaker-than-expected employment report suggests the end of interest rate hikes. Homebuyers are sensitive to rates, and some may no longer be able to afford a home or qualify for a mortgage. The article suggests that mortgage rates may continue to decrease in the coming months.
Sentiment: MIXED
Tickers: US10Y,
Keywords: housing, real estate, business news, u.s. 10 year treasury, mortgages,