Tuesday brought the release of an economic report that has frequently been responsible for big swings in mortgage rates. The Consumer Price Index (CPI) is the earlier of the two big inflation reports from the US government, and inflation is a big deal for interest rates.  In general, higher inflation coincides with higher rates and vice versa. But today's CPI data was likely to be taken with a grain of salt due to the to-be-determined impacts of tariffs and trade deals on the price of imported goods and materials. In other words, if inflation came in lower than expected, it wouldn't matter as much as normal because. The only real risk was that inflation would come in higher than expectations, thus suggesting that any tariff-related impact would be hitting an already elevated price trend. Thankfully, today's report was slightly lower than expected, even though it moved up from last month's levels. As expected, that didn't do anything to help rates. In fact, the average lender is just a hair higher than yesterday owing to market movement that happened later in the day.

May 13, 2025 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.15% -0.02%   6.01% 7.13% 15 Yr. Fixed 5.72% -0.03%   5.55% 6.5% 30 Yr. Jumbo 6.33% -0.02%   6.1% 7.45% Compare Mortgage Rates from Local Lenders for May 13, 2025 Mortgage Rates Hold Fairly Steady After Inflation Data Tue, May 13, 2025 4:26PM Tuesday brought the release of an economic report that has frequently been responsible for big swings in mortgage rates. The Consumer Price Index (CPI) is the earlier of the two big inflation reports from the US government, and inflation is a big deal for interest rates.  In general, higher inflation coincides with higher rates and vice versa. But today's CPI data was likely to be taken with a grain of salt due to the to-be-determined impacts of tariffs and trade deals on the price of imported goods and materials. In other words, if inflation came in lower than expected, it wouldn't matt... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.15% -0.02 0.00 15 Yr. Fixed 5.72% -0.03 0.00 30 Yr. FHA 5.75% -0.05 0.00 30 Yr. Jumbo 6.33% -0.02 0.00 7/6 SOFR ARM 5.56% -0.03 0.00 30 Yr. VA 5.77% -0.04 0.00 Updates Daily - Last Update: 2/6 Freddie Mac Rate Change Points 30 Yr. Fixed 6.11% +0.01 0.00 15 Yr. Fixed 5.50% +0.01 0.00 Updates Weekly - Last Update: 2/5 Mortgage Bankers Assoc. 30 Yr. Fixed 6.24% +0.08 0.55 15 Yr. Fixed 5.64% +0.09 0.61 30 Yr. Jumbo 6.34% -0.05 0.40 Updates Weekly - Last Update: 1/28 UMBS 30YR 5.0 100.05 +0.01   95.71 100.50 UMBS 30YR 5.5 101.49 +0.04   98.11 101.64 10 YR Treasury 4.213 +0.033   3.932 4.608 Stock Gains Creating Bond Pain After Flat Response to CPI Tue, May 13, 2025 10:49AM Heading into the session, we knew there was a high bar for CPI to have a positive influence on bonds with the future tariff landscape reducing the relevance of current price data, but the results were close enough to consensus that we might not have seen a big reaction anyway. Core CPI rose to 0.237 month over month, versus a 0.3 forecast. Annually, it was 2... (read more) MBS Price Change UMBS 4.5 98.06 +0.03 UMBS 5.0 100.05 +0.01 UMBS 5.5 101.49 +0.04 GNMA 4.5 97.84 +0.10 GNMA 5.0 100.18 +0.11 GNMA 5.5 101.22 -0.02 Pricing as of: 2/7 12:40AM EST US Treasury Yield Change 2 YR Treasury 3.496 +0.044 5 YR Treasury 3.753 +0.036 7 YR Treasury 3.965 +0.026 10 YR Treasury 4.213 +0.033 30 YR Treasury 4.851 +0.006 Pricing as of: 2/7 12:40AM EST Other News Compliance, Dashboard, Origination Tools; eNote News; New Econ Book; Conv. Conforming Changes Tue, May 13, 2025 11:45AM No one in places like Florida or Myrtle Beach or Colorado’s Glenwood Springs wants to wake up to a headline, sensationalist or not, saying, “Vacation homes (about 7 million in the U.S.) are being dumped at a rapid rate as fresh fears of a housing market crash, and a shrinking pool of renters, rattle sellers. “The number of people buying second homes has plun... (read more) Latest Video FHFA Director Bill Pulte on the housing market, mortgage rates, future of F... GOP comprehensive tax plan unveiled. Here's a breakdown Zillow Group CEO: The housing market remains a challenge for buyers Too early to tell if trade news has impacted Fed trajectory, says former Fe... Around the Web CNBC As student loan default rate spikes, some borrowers face 'grave consequences,' New York Fed says CNBC Annual inflation rate hit 2.3% in April, less than expected Eye on Housing Residential Mortgages Experience Weaker Demand in First Quarter Eye on Housing Highest Paid Occupations in Construction in 2024 MBA Mortgage Delinquencies Increase Slightly in the First Quarter of 2025 CNBC House GOP tax bill calls for SALT deduction cap of $30,000 for most taxpayers. Here's who could benefit Calculated Risk Blog YoY Measures of Inflation: Services, Goods and Shelter Calculated Risk Blog Housing May 12th Weekly Update: Inventory up 1.6% Week-over-week, Up 32.9% Year-over-year Calculated Risk Blog Cleveland Fed: Median CPI increased 0.3% and Trimmed-mean CPI increased 0.2% in April Federal Reserve Economic Outlook - Governor Adriana D. Kugler Calculated Risk Blog 2nd Look at Local Housing Markets in April Calculated Risk Fed April SLOOS Survey: Banks reported Weaker Demand for Residential Real Estate CNBC Treasury yields flat as investors parse China-U.S. trade deal, await inflation print

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