Good morning, homeowners! The mortgage market is sending mixed signals today. While the 30-year fixed rate stands at 6.16% according to Freddie Mac's weekly survey, our daily survey shows a slightly higher 6.21%. The 10-Year Treasury yield, a key benchmark, sits at 4.183%, indicating a general sense of stability.

Key Drivers: Several factors are influencing today's rates. Firstly, despite generally lower rates lately, lenders are tightening credit standards, making it harder for many to qualify for a mortgage. Secondly, President Trump's proposed $200 billion bond purchase aims to artificially suppress rates, creating market uncertainty. Persistent, though gradually decreasing, inflation (CPI at 325.031) keeps upward pressure on rates, while the Federal Funds Rate continues its downward trend (currently 3.72%). This combination of economic crosscurrents is keeping rates volatile.

Outlook: Expect continued rate fluctuations in the short term. Keep a close eye on inflation reports and Fed announcements, as these will be crucial in determining future rate direction. Be aware of stricter lending standards potentially impacting your ability to refinance or purchase.