Mortgage Rates Hit 6.97%: Should You LOCK Before CPI?

Mortgage rates are pushing toward 7% today as hot inflation data raises the odds of a Federal Reserve rate hike at next week's meeting. In this update I break down today's PPI report, rising oil and diesel prices, and what the bond market is signaling for your mortgage rate right now.📊 PPI inflation data comes in hot, pushing year over year producer prices to 5.4% 🛢️ Oil tops $100 a barrel and diesel hits $6 a gallon, adding fresh inflation pressure 🏦 CME FedWatch now shows a 65% chance the Federal Reserve hikes rates at next week's meeting 📉 Bond market spreads point to mortgage rates pushing toward 7%, maybe higher 💼 Jobless claims and GDP data show the labor market still holding steady 🏠 What this means for homebuyers, homeowners, and anyone locking a rate this week📖 Read the full breakdown on the blog: https://www.therateupdate.com/blog0:00 Intro: Rates, Oil, and What the Fed Does Next 2:15 Oil and Diesel Prices Push Inflation Higher 4:00 Today's PPI Inflation Numbers Explained 6:45 Fed Rate Hike Odds and the CME FedWatch Tool 8:30 What This Means for Your Mortgage Payment🏠 APPLY NOW — One Application, One Credit Pull, 30+ Lenders Compared https://257781.my1003app.com/246527/register📅 REQUEST A FREE CONSULTATION https://go.oncehub.com/solvitmortgagealan🔍 FREE LE REVIEW — Already have a quote? Send me your Loan Estimate and I'll compare it against 30+ lenders https://www.therateupdate.com/loan-estimate-review📉 JOIN RATE WATCH — FREE Rate Monitoring https://rw2.therateupdate.com/Welcome to The Rate Update with Dan Frio.This channel helps homebuyers, homeowners, real estate professionals, and anyone watching the housing market understand what is really happening with mortgage rates, housing, inflation, the bond market, the Federal Reserve, and the economy.Here we break down the stories that impact your mortgage payment, your buying power, your refinance options, and your financial decisions.WHAT YOU'LL FIND ON THIS CHANNEL 🏠 Daily mortgage rate updates 📉 Housing market news and home price trends 📊 Inflation, CPI, and Federal Reserve analysis 📈 10-Year Treasury and mortgage bond movement 💰 Refinance and debt consolidation opportunities 🏡 First-time homebuyer education 🔁 Rate Watch mortgage monitoring tools 🧮 Mortgage calculators and payment toolsWHERE TO START🏡 Buying a home — FHA, VA, USDA, conventional, jumbo and down payment assistance https://www.therateupdate.com/first-time-home-buyer🔁 Refinancing or accessing equity — cash-out, FHA Streamline, VA IRRRL, HELOC and reverse https://www.therateupdate.com/homeowner-options🏢 Buying rentals — DSCR on 1 to 8 units, bank statement and no-income options https://www.therateupdate.com/investment-property-loans🎁 Down payment assistance — 3.5% to 5%, including grants you never repay https://www.therateupdate.com/down-payment-assistanceTOP RESOURCES📊 TRU Mortgage Command Center — Live Rate Dashboard https://command.therateupdate.com/💳 TRU Debt Optimizer https://debtrelief.therateupdate.com/🧮 Mortgage Calculators & Tools https://www.therateupdate.com/mortgage-calculators✉️ Ask Dan a Question https://www.therateupdate.com/contactFOLLOW THE RATE UPDATEYouTube: https://www.youtube.com/@TheRateUpdatewithDanFrio Instagram: https://instagram.com/therateupdate TikTok: https://tiktok.com/@therateupdateIf this helped you understand mortgage rates a little better, subscribe and turn on notifications so you catch the next update.DISCLAIMERDan Frio | NMLS #246527 | PBT Bancorp | NMLS #257781 | Equal Housing Lender 524 Main St, Hazard, KY 41701 NMLS Consumer Access: https://www.nmlsconsumeraccess.org/Dan Frio is a federally registered mortgage loan originator with PBT Bancorp