by Calculated Risk on 5/09/2024 07:18:00 PM

From Matthew Graham at Mortgage News Daily: Mortgage Rates Technically at Lowest Levels in a Month

The most prevalently quoted conventional 30yr fixed rates are at the lowest levels in a month as of today, but there are a few "yeah buts" ... the above has played out in a very narrow range in the bigger picture. The big spike on April 10th was in a completely different league and it was exclusively a response to the Consumer Price Index (CPI). With that in mind, the next CPI will be released next Wednesday. It has just as much power to cause just as big of a move as it did last time, for better or worse. [30 year fixed 7.18%]
emphasis added

Tuesday:
• At 10:00 AM ET, University of Michigan's Consumer sentiment index (Preliminary for May).