Chicago Mortgage

Posted To: Mortgage Rate Watch

All I can say about yesterday is that it was an UGLY UUUGLY day for interest rate watchers. Mortgage rates were pressured higher right out of the gate following a warmer than expected read on producer level price inflation. And then, to make matters worse, as the day progressed, benchmark rates drifted even higher, this forced prices of mortgage-backed securities progressively lower. By the end of the day all lenders had repriced for the worse, some even did so more than once! Following two action packed days of economic data, today was a little quieter, we only had one data release. The Bureau of Labor Statistics this morning released the Consumer Price Index. This index measures the price change of a fixed basket of goods and services purchased by consumers, also known as inflation, the enemy...(read more)