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Rates Still Sideways Ahead of Key Inflation Data; Delinquencies Down, but TX/FL Still Coping

Rates Still Sideways Ahead of Key Inflation Data; Delinquencies Down, but TX/FL Still Coping

Mortgage rates roughly unchanged again today. Some lenders were slightly higher in rate, but not enough to affect the average. Underlying bond markets (which dictate rates) have been eerily calm so far this week, ostensibly with an eye on tomorrow morning's big inflation report. As we discussed yesterday, this is one of the biggest potential motivations for rates in terms of economic data. If inflation comes in much higher than expected, rates should also move higher. Vice versa if inflation comes in weaker. Loan Originator Perspective I continue to find very little benefit with floating in today's market. Bonds are currently just below 2.80, so at the bottom of the range that has held up for quite some time from 2.80 to around 2.90. All attempts for bonds to break 2.80 are quickly met with
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