Mortgage Interest Rates Today, April 18, 2024 | Rates Hold Steady Near 7% [Business Insider]
Rocket Companies, Inc. Class A (RKT)
Company Research
Source: Business Insider
Data showing that the economy is still running hot has driven mortgage rates higher. This includes the latest Consumer Price Index report, which showed that prices rose 3.5% year over year in March. This is a slight uptick from the previous month's reading, and higher than what many economists expected. Because inflation has been somewhat sticky so far this year, we'll likely need to wait longer for the Federal Reserve to start cutting rates. Fed Chair Jerome Powell noted the "lack of further progress" in getting inflation down to the Fed's 2% goal during a panel discussion on Tuesday . Fed policymakers have repeatedly said they want "greater confidence" that inflation will reach 2% before they'll consider lowering the federal funds rate. "The recent data have clearly not given us greater confidence and instead indicate that is likely to take longer than expected to achieve that confidence," Powell said. Mortgage rates aren't tied to the federal funds rate , but they often mo
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- Mortgage Interest Rates Today, April 28, 2024 | Rates Tick Up Following Inflation Report [Business Insider]Business Insider
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- Mortgage Interest Rates Today, April 23, 2024 | Rates Hold Steady, but They Could Move Later This Week [Business Insider]Business Insider
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