Inflation Hits New Record And Mortgage Rates Spike

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Inflation Hits New Record And Mortgage Rates Spike

Good morning Brenden Rendo with The Homes Orlando Team.
I just want to take a moment, reach out to everyone to let everyone know what's going on in the market today, inflation numbers came out, hit a new 40 year high 8.6%.
What does this mean for the housing market?
Well, as you can see the bond markets following the 10-year T has exploded this morning and as of this moment we're sitting at 3.137%.
What how is that going to affect you?
Mortgage rates are going to explode right behind with the 10 year T.
We very easily could see 6% interest rates coming here in the next few weeks.
So if you're looking to buy, call your mortgage lender, lock yourself in because I don't see us pulling back from these numbers.
Not with the way inflation sitting take care. Have a great day.

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