Average 30-year mortgage rates spiked this week in response to the latest Consumer Price Index data, which came in hotter than expected.
If the Fed needs to keep rates higher for longer, mortgage rates will stay high as well.
See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates would impact your monthly payments.
15-year Fixed Mortgage RatesLast week, average 15-year mortgage rates were 6.16%, a 10-basis-point increase from the previous week, according to Freddie Mac data.
Once the Fed cuts rates, mortgage rates should fall even further.
Persons:
it's, you'll, Freddie Mac
Organizations:
Federal Reserve, Zillow
Locations:
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