Will a Mortgage Rate Spike Squash Home Price Hikes?

Orange County Register, April 11, 2024–Jeff Lazerson
The latest readings from the Consumer Price Index blew up the bond market Wednesday.

As the CPI increased 3.5% from one year ago March (higher than anticipated by many market participants), the 10-year Treasury bond exploded to 4.55%. It started the day at 4.35%. Consumers’ 30-year fixed mortgage rates tend to shadow the 10-year Treasury rates.
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