RATE Hits 6.77% as FED Comes 3 Votes Short of a Hike

Mortgage rates are on the move after 3 Federal Reserve officials voted to hike rates this week, the largest dissent within the Fed since 1970. If you're a homebuyer, homeowner, or realtor trying to figure out where mortgage rates are headed next, this is the update you need to watch.

In this episode, I break down exactly why mortgage rates jumped to 6.77% today, why the Federal Reserve is split on hiking rates even as inflation cools, and why oil prices tied to the Iranian conflict are quietly driving Treasury yields and mortgage rates higher. I also walk through this week's economic data, next week's calendar, and what I'm personally advising my clients to do right now if they're under contract or thinking about locking in a rate.

Here's what I cover: 🏠 Why mortgage rates hit 6.77% today 📊 The Fed's rare 3-vote dissent and what it signals 📉 How oil prices and the Iranian conflict are pushing yields higher 📈 This week's PCE inflation, GDP, and jobless claims data 🧮 Next week's full economic calendar (ISM, ADP payrolls, jobs report) 🔁 My advice for homebuyers and realtors on locking in a rate right now

Read the full breakdown on my blog: 3 Fed Officials Want a Rate Hike: What It Means for Your Mortgage Rate https://www.therateupdate.com/blog/3-fed-officials-want-rate-hikes-what-it-means-for-your-mortgage-rate

Chapters: 0:00 Fed's Rare 3-Vote Dissent Explained 1:30 Today's Mortgage Rate Chart Breakdown 3:00 Why Oil and the Iranian Conflict Are Driving Rates 6:00 This Week's Data Recap and Next Week's Calendar 9:30 My Advice for Homebuyers and Realtors + Fed Forecast

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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.

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I am Dan Frio, a licensed mortgage loan officer in all 50 states and Puerto Rico. NMLS #246527 | TRU Mortgage Team / PBT Bancorp NMLS #257781 | Equal Housing Lender.

This channel is for education and commentary only. Topics may include mortgage rates, real estate, housing, stocks, bonds, cryptocurrency, inflation, the Federal Reserve, and financial markets.

All opinions are my own and do not represent PBT Bancorp, TRU Mortgage Team, or any financial institution I may be employed by or affiliated with.

Nothing on this channel is an offer to lend, a commitment to lend, financial, legal, tax, or investment advice. Mortgage rates, terms, approvals, and programs are subject to borrower qualifications, market conditions, underwriting approval, and change without notice. Not all borrowers will qualify.

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