Weekly Mortgage Rates Edge Higher, Inflation Remains Hot

Mortgage rates are on the rise, signaling a tough time ahead for homebuyers. New data from the Personal Consumption Expenditures index indicates that inflation is still stubbornly high, which suggests the Federal Reserve might keep interest rates steady for now. This could mean longer wait times and higher costs for those looking to buy a home. With the housing market already facing challenges, sustained high inflation and stable rates could further dampen demand and push prices higher.