Rates Hold Steady—But More Market Movement Could Be Ahead
Mortgage rates held steady this week, showing little change from last week’s levels. That’s welcome news for homebuyers and homeowners hoping for more stability in the housing market.
The big economic news this week was the release of the Consumer Price Index (CPI) report, which measures inflation. The April CPI report came in mostly as expected, showing that inflation is still cooling—just not quite as fast as the Federal Reserve would like.
Because the report didn’t surprise the market, mortgage rates stayed flat, with no major spikes or drops. That stability can be helpful for buyers trying to time their move or lock in a rate. With more data on the way, rates could start moving again soon—either up or down.
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