by calculated risk 5/09/2024 07:18:00 PM
From Matthew Graham of Mortgage News Daily: Strictly speaking, mortgage interest rates are at the lowest level of the month.
The most commonly cited traditional 30-year fixed rate is at its lowest monthly level as of today, but there are some “buts”… has been done. The big jump on April 10th was on a completely different level and was solely a reaction to the Consumer Price Index (CPI). With this in mind, the next CPI is expected to be released next Wednesday. For better or worse, it has the power to cause just as much movement as the last time. (Fixed for 30 years 7.18%)
Emphasis added
Tuesday:
• 10 a.m. ET; University of Michigan Consumer Confidence Index (Preliminary version for May).
