Mortgage Rates Hold Steady Amid Inflation Concerns

Despite recent inflation data, mortgage rates remain unchanged, highlighting the complex interplay between economic indicators and lending rates.

Mortgage rates on April 12, 2024, for both 15-year and 30-year fixed-rate mortgages have remained steady, according to Fox Business.
AOL reports that inflation concerns have pushed mortgage rates higher, with the average 30-year mortgage rate now exceeding 7%.
Business Insider notes that unexpectedly high inflation data could lead to further increases in mortgage rates, though current rates are the highest in over a month.
Economic indicators such as the Consumer Price Index and Producer Price Index are closely watched for signs of inflation, which directly influences mortgage rates.
Despite the potential for rate increases, current mortgage rates are influenced by a variety of factors including the Federal Reserve's policies and market conditions.