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Mortgage Rates Back at 3 Week Lows
Mortgage News Daily • • business
Key Points:
- Mortgage lenders set daily rates around 10am ET, influenced primarily by bond market movements occurring overnight.
- The bond market showed moderate optimism ahead of the release of July's Consumer Price Index (CPI), a key inflation report.
- July's CPI data matched consensus estimates closely, reflecting stable inflation trends despite a rebound in fuel prices.
- The bond market had already priced in the expected CPI results, resulting in no significant bond market reaction post-release.
- CPI is closely watched as it precedes the Personal Consumption Expenditures (PCE) report by two weeks and can significantly impact market sentiment.
