Mortgage rates fell last week after months of hikes, with forecasts indicating a potential range of 7.25%-5.75% for 2025, influenced by recent economic data.
The CPI data was slightly below forecast, with retail sales figures missing expectations while the control purchases segment performed adequately, signaling mixed economic signals.
The drop in mortgage rates is attributed to the 10-year yield's high levels before the fall, emphasizing the need for strong economic indicators to push rates higher.
Fed President Waller's comments on potential rate cuts helped to lower rates, reflecting nervousness among some Fed members about rising rates, impacting market sentiment.
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