Mortgage interest rates are having one of their best days in months following the CPI report released this morning showing better than expected data on inflation. Yes, inflation is still high but this morning’s report indicates that it may be starting to correct.

The green sticks indicate that mortgage backed securities are improving. If you look to the last stick on the right, you can see that this morning, MBS made a dramatic improvement jumping up 171 bps. It’s important to note that mortgage rate may change constantly throughout the day. As I write this post (9:34 am), MBS are down a bit from when I captured this graph (but they’re still improved).

This is why it’s critical to be fully approved and ready to lock in an interest rate if you are in the process of getting a mortgage loan.

Should we continue to have signs that inflation is getting in check, we should continue to see Mortgage Rates improve. In my opinion, they will probably continue to bounce around quite a bit and (hopefully) trend lower.

If I can help you with your refinance or mortgage to purchase your next home, please contact me! I’m happy to help you.