Why Mortgage Rates Aren’t Dropping After Today’s Inflation and GDP Data

From The Mortgage Update with Dan Frio Podcast Dan Frio

Mortgage rates today are being shaped by the Fed's PCE inflation report, the bond market, and a major shift in how the government is handling $40 trillion in national debt. Homebuyers and realtors, here's what it means for rates this week.

In this video I break down:

Today's PCE inflation report, which came in at 3.3% year over year, still double the Fed's 2% target
How to read the daily bond market chart that actually moves mortgage rates
Durable goods orders, GDP, personal income and spending, jobs data, and home price appreciation numbers
What the Fed is expected to do at its meeting in 21 days
The Treasury's plan to swap long term debt for short term debt, and how it could affect future rates
Why oil prices are still the biggest wildcard for where rates go from here

Read more on the blog: https://therateupdate.com/blog

0:00 Today's PCE Inflation Report and What It Means for Rates 2:10 Reading the Daily Bond Market Chart 4:20 PCE, GDP, Jobs, and Home Price Data Breakdown 6:45 Fed Meeting Odds and the Government's Debt Plan 9:00 What to Watch Next: Oil Prices and Your Next Move

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DISCLAIMER

I am a licensed mortgage loan officer in all 50 states and Puerto Rico. NMLS #246527 | TRU Mortgage Team / PBT Bancorp NMLS #257781 | Equal Housing Lender.

This video is for education and commentary only and covers mortgage rates, real estate, housing, inflation, the Federal Reserve, and financial markets. All opinions are my own and do not represent PBT Bancorp, TRU Mortgage Team, or any financial institution I am employed by or affiliated with. Nothing in this video 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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