📈 Mortgage rates surged to low 7% after a recent inflation report. Inflation hit 3.1%, exceeding expectations. Housing costs, especially shelter, rose more than anticipated.

🔍 The Consumer Price Index (CPI) tracks everyday goods' costs. The unexpected inflation caused a spike in mortgage rates. The upcoming Fed meeting in February will provide more insights.

🏠 Buyers and sellers, don't let fluctuating rates dictate your decisions. Focus on your goals and monthly budget. Consider fixed payments and explore alternative loan options.

💼 Real estate plans affected by rate volatility? Schedule a call with our team. https://calendly.com/tomtoole