Mortgage Rates Hit 6.97%: Should You LOCK Before CPI?

Mortgage rates are pushing toward 7% today as hot inflation data raises the odds of a Federal Reserve rate hike at next week's meeting. In this update I break down today's PPI report, rising oil and diesel prices, and what the bond market is signaling for your mortgage rate right now.

📊 PPI inflation data comes in hot, pushing year over year producer prices to 5.4%
🛢️ Oil tops $100 a barrel and diesel hits $6 a gallon, adding fresh inflation pressure
🏦 CME FedWatch now shows a 65% chance the Federal Reserve hikes rates at next week's meeting
📉 Bond market spreads point to mortgage rates pushing toward 7%, maybe higher
💼 Jobless claims and GDP data show the labor market still holding steady
🏠 What this means for homebuyers, homeowners, and anyone locking a rate this week

📖 Read the full breakdown on the blog: https://www.therateupdate.com/blog

0:00 Intro: Rates, Oil, and What the Fed Does Next
2:15 Oil and Diesel Prices Push Inflation Higher
4:00 Today's PPI Inflation Numbers Explained
6:45 Fed Rate Hike Odds and the CME FedWatch Tool
8:30 What This Means for Your Mortgage Payment

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Welcome to The Rate Update with Dan Frio.

This channel helps homebuyers, homeowners, real estate professionals, and anyone watching the housing market understand what is really happening with mortgage rates, housing, inflation, the bond market, the Federal Reserve, and the economy.

Here we break down the stories that impact your mortgage payment, your buying power, your refinance options, and your financial decisions.

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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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