"Lower inflation suggests that mortgage rates will come down further this fall. However, mortgage rates are impacted by broader economic conditions," says Bright MLS Chief Economist Lisa Sturtevant.
"If labor market conditions continue to outpace expectations, we could see mortgage rates increase or at least not fall further. We already saw an uptick in mortgage rates this week on the heels of the strong jobs report."
"The September inflation figure from the consumer price index was down from 2.5% the prior month, giving Federal Reserve policymakers a positive signal for further rate cuts."
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