Rates Rise on Continued Inflation Concerns

Bonds were down over 100 basis points today, as inflation fears mounted. Mortgage rates increased for the worse, at least .375 to price over yesterday. The Q4 Productivity Index and Factory Orders for January were released today. Productivity came in above expectations and Factor Orders came in as expected. What brought attention was the ISM Services Index, which was higher than expected, higher than January's reading and suggested that the services sector of the economy may be recovering. The Beige Book reported weakening or neutral economic conditions regionally throughout the country. The report also said that there was upward pressure on prices in almost all regions, underlining the inflation concern.

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National Rates

Loan Type Today
30 Year Fixed   5.62
15 Year Fixed   5.47
5/1 Adjustable   5.85

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