Mortgage Rates are boring this week, but……. December 9, 2022

Mortgage Interest rates have been super boring for a while.  Ever since November 10th when the last Consumer Price Index (CPI) was released, the bond market has not had much to react to.  That CPI report is the most significant indicator of inflation, and inflation is the driver of bond yields, and thus mortgage rates.   The next CPI comes out this next Tuesday.

Today’s rates are just a little higher than yesterday’s, but only by about 1/8%, depending on the lender and investor.  All of that could change dramatically next week with that CPI report on Tuesday.  Also, the Fed announcement is the next day and that also has the potential to change the markets.

Between now and then mortgage rates aren’t likely to be anywhere other than the low 6.0% range.