Mortgage rates jump higher again after jobs, inflation news
Mortgage rates jump higher again after jobs, inflation news
Abstract
After recording a one-week fall of 40 basis points — the largest since 2008 — the 30-year fixed-rate average jumped up to 5.51% from 5.3% for the seven-day period ending July 14. A better-than-expected jobs report helped reduce recession worries and led mortgage rates upward, say analysts. Newly released Consumer Price Index data also showed inflation surging another 9.1% in June.
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