Mortgage Rates Recover Some of The Lost Ground

The week's big story is still the big jump in rates that took place after Wednesday's Fed announcement.  And while rates remain noticeably elevated on the week due to that jump, they're set to end the week at slightly less elevated levels. Credit this morning's inflation data for that development! Part of Wednesday's Fed Day drama involved a renewed focus on inflation reports.  That added to anxiety because Friday's PCE inflation index is one of the two big inflation reports that come out each month. The bond market that underlies day-to-day interest rate movement is most focused on what's known as "core" inflation, which discounts the more volatile food and energy components.  If month over month core inflation is running just under 0.2%, annual inflation would eventually hit its 2