February 2023 Mortgage Rates Now Reach November Highs
February 2023 mortgage rates faced high levels of volatility, later reaching November 2022 highs after strong Employment data came out.
February 2023 mortgage rates faced high levels of volatility, later reaching November 2022 highs after strong Employment data came out.
Mortgage rates climbed to the highest levels since November. The spike is directly due to the major inflation data released this week. The data on inflation was stronger than expected.
After 2022 demonstrated recent record highs, the new year kicked off with lower January 2023 mortgage rates.
CPI report has investor’s focus during a light week in economic news. The held no surprises with lower mortgage rates ending the week.
Due to Bank of Japan policy change, investors raised their outlook for monetary policy tightening by global central banks. As a result, mortgage rates ended the week higher.
While the December 2022 Fed meeting stole the show this week, a wide range of reporting proved favorable for mortgage rates.
After a long year of rising inflationary pressures, November 2022 markets now highlight change of pace heading into 2023.
This week, October 2022 home sales fell, marking the ninth straight month of declines, as mortgage rates remained unchanged.
Looking back at October 2022 MBS trends, inflation once again dominated headlines as the Federal Reserve and ECB continue to raise rates.
As the inflation data from October came out, the November 2022 CPI report surprisingly fell below its consensus forecast.