Mortgage Rates Hit 6.74% As Inflation Fears Rise

Mortgage rates have accelerated upward, with the 30-year fixed benchmark reaching 6.83% ahead of today's inflation data. This sharp move reinforces expectations for a Fed rate hike at the September meeting, keeping borrowing costs elevated despite recent market volatility.
According to GN auto markets/bonds: interest rates, the 30-year fixed rate has jumped to 6.83%, a 19-basis-point increase from yesterday, as investors brace for the upcoming CPI release.
Source: GN auto markets/bonds: interest ratesAccording to GN markets/inflation (en-US), market pricing currently reflects a 70% probability of a quarter-point Federal Reserve rate hike, driven by stronger-than-expected August employment data and persistent energy costs. Additionally, recent Treasury buyback announcements have failed to calm bond yields, suggesting continued volatility for borrowers.
Source: GN markets/inflation (en-US)The average 30-year fixed mortgage rate increased to 6.74% this week. This rise follows strong employment data and upcoming inflation figures.
Source: GN markets/inflation (en-US)






