Mortgage Rates Get GOOD NEWS: Could Your Payment Drop?

Mortgage rates today: inflation came in cooler than expected, and that's good news for homebuyers and homeowners watching the bond market. PCE, the Federal Reserve's preferred inflation gauge, held at 3.4% when the market expected 3.7%. In this update I break down what that means for mortgage rates and what's most likely to happen over the next few weeks.

🏠 PCE inflation came in at 3.4% instead of 3.7%, and core PCE landed at 3.0%
📉 The Fed is now 55% likely to pause at the next meeting instead of hiking
📊 Jobs and GDP beat expectations: ADP payrolls at 90K vs 73K expected, GDP at 2.2% vs 1.5%
🔒 What I'd do if you have a house under contract right now
📈 The mortgage bond is up 19 ticks, so rates should ease a little today

Get the daily headlines and rate analysis on the blog: https://www.therateupdate.com/blog

CHAPTERS
0:00 Inflation Comes in Cooler Than Expected
1:30 How to Read the Mortgage Bond
3:00 Jobs, PCE and GDP Numbers Explained
6:00 Fed Odds and What I'd Do Now
8:00 Free Tools and the Bond Market Check

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DISCLAIMER

Dan Frio | NMLS #246527 | PBT Bancorp | NMLS #257781 | Equal Housing Lender
524 Main St, Hazard, KY 41701
NMLS Consumer Access: https://www.nmlsconsumeraccess.org/

Dan Frio is a federally registered mortgage loan originator with PBT Bancorp. Mortgage products are originated by PBT Bancorp, NMLS #257781.

This channel is for education and commentary only. Topics may include mortgage rates, real estate, housing, stocks, bonds, cryptocurrency, inflation, the Federal Reserve, and financial markets.

All opinions are my own and do not represent PBT Bancorp or any financial institution I may be employed by or affiliated with.

Nothing on this channel is an offer to lend, a commitment to lend, or financial, legal, tax, or investment advice. Mortgage rates, terms, approvals and programs are subject to borrower qualifications, market conditions, underwriting approval, and change without notice. Not all borrowers will qualify.

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