Good morning everyone,The (CPI) Consumer Price Index report was (pardon the lack of a better word) ugly. Rising food costs have pushed consumer prices up again by 0.4% implying an even harsher reality of an ever growing inflationary economy. After this news the 10-year note yield initially rose to 3.95%, which pushed up long term mortgage interest rates. At around mid-morning the yield eased back down to 3.88%. Apparently bond traders do not fear inflation, which may actually help interest rates.
If anyone has any questions please give me a call,
If I were considering refinancing, I would…
Lock if my closing were taking place within 60 days…
Float if my closing were taking place over 60 from now…
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