Episode Details

Mortgage rates today are about 7.25% after hot inflation numbers hit the bond market, and the Federal Reserve now has a 70% chance of a rate hike priced in. I break down what it means for your payment and what to watch next.

If you're a homebuyer, a homeowner tracking your rate, or a realtor explaining this to clients, here's what I cover today:

📈 Mortgage rates jumped to about 7.25%, up from 5.99% about six months ago
🏭 Services inflation came in at 58.7 versus about 56 expected, and manufacturing also came in hot
🛢️ Why oil keeps driving inflation, and why diesel at $6 a gallon is a problem
📉 The 10-Year Treasury at 5% and why it keeps 30-year mortgage rates high
🏦 The Fed's next meeting is in 34 days, and the odds of a hike jumped from the 50s to 70%
📅 The PCE report is next week. If it's hot, rates could hit 7.5%. If it's cooler, rates could fall back to 7% or even the sixes
🔒 Why I'm telling clients with a contract to lock now. A jump of about an eighth of a point can add $100 to $150 to a monthly payment

More mortgage rate and housing market breakdowns on the blog:
https://www.therateupdate.com/blog

CHAPTERS
0:00 Mortgage Rates Jump to 7.25% After Hot Inflation Numbers
0:50 Yesterday's Bond Market Move: Services and Manufacturing Reports
3:00 Why Oil and Diesel Prices Keep Inflation Higher
6:00 Jobs Report, PCE Next Week, and the 70% Fed Hike Odds
8:30 My Advice to Homebuyers, Homeowners, and Realtors

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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 tools

WHERE TO START

🏡 Buying a home: FHA, VA, USDA, conventional, jumbo and down payment assistance
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🔁 Refinancing or accessing equity: cash-out, FHA Streamline, VA IRRRL, HELOC and reverse
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🏢 Buying rentals: DSCR on 1 to 8 units, bank statement and no-income options
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🎁 Down payment assistance: 3.5% to 5%, including grants you never repay
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