Inflation Hits New Record & 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.