Mortgage rates slingshot higher as tariff uncertainty roils markets

by anastasiakaufman-chime-me

Published Tue, Apr 8 2025 By: Diana Olick

A completed planned development is seen in Ashburn, Virginia on August 14, 2024. US consumer inflation eased slightly in July, according to US Labor Department data published on August 14, 2024,, its smallest 12-month increase since March 2021 and a positive sign for the Federal Reserve as it weighs cutting interest rates. The consumer price index (CPI) rose 2.9 percent last month from a year ago, the Labor Department said in a statement, while a measure that strips out volatile food and energy costs cooled
A completed planned development is seen in Ashburn, Virginia, on Aug. 14, 2024.Andrew Caballero-Reynolds | AFP | Getty Images

Mortgage rates hit their highest level in over a month this week, reversing course after a period of improvement.

The average rate on the 30-year fixed rate jumped 22 basis points Monday and another 3 basis points Tuesday to 6.85%, according to Mortgage News Daily, fully erasing the decline from last week. LEARN MORE…

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