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Mortgage rates for 30-year and 15-year fixed loans, as well 5/1 ARMs, all eased lower this morning, according to a NerdWallet survey of mortgage rates published by national lenders early Friday.

Inflation — the slowly rising cost of consumer goods and services — is a primary economic measure watched by the Federal Reserve when making monetary policy decisions. By raising and lowering interest rates, the Fed hopes to keep annual inflation around 2%, while allowing the economy to grow at a healthy pace. Thing is, inflation hasn’t been going much of anywhere lately. This morning, the Labor Department’s Consumer Price Index found that inflation was unchanged in June.

Without growing inflation, the Fed could postpone any additional short-term interest rate hikes this year. While Fed officials don’t like delays, the bond market does. Treasury prices are rising, yields are falling — and lenders will be considering lowering their mortgage rates if the trend continues through the rest of the day.


(Change from 7/13)
30-year fixed: 4.11% APR (-0.01)
15-year fixed: 3.48% APR (-0.01)
5/1 ARM: 3.88% APR (-0.02)

NerdWallet daily mortgage rates are an average of the published annual percentage rate with the lowest points for each loan term offered by a sampling of major national lenders. APR quotes reflect an interest rate plus points, fees and other expenses, providing the most accurate view of the costs a borrower might pay.

Hal Bundrick is a staff writer at NerdWallet, a personal finance website. Email: Twitter: @halmbundrick.

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