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FrontRow · Nov 11, 2026

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Mortgage rates fell for four straight weeks, but that ended Tuesday, after a monthly inflation report came in hotter than expected. The average rate on the 30-year fixed mortgage rose 12 basis points from Monday to 7.30%, according to Mortgage News Daily. It was the largest one-day jump in more than a month. The consumer price index showed broad upward pressure on prices, not just fuel-related costs. This came after a monthly employment report Friday that also showed a more heated economy than analysts had predicted. "Given that the Fed explicitly said it was more focused on the inflation component of its job description at the moment (as opposed to the 'full employment' component), we were expecting today's data to carry far more weight than last week's jobs report. The reaction was logical an immediate," wrote Matthew Graham, chief operating officer at Mortgage News Daily. This jump comes after a monthlong reprieve in interest rates that finally brought mortgage demand back. Last week, mortgage applications rose 6.2% from the previous week, according to the Mortgage Bankers Association's seasonally adjusted index.

Mortgage rates fell for four straight weeks, but that ended Tuesday, after a monthly inflation report came in hotter than expected. The average rate on the 30-year fixed mortgage rose 12 basis points from Monday to 7.30%, according to Mortgage News Daily. It was the largest one-day jump in more than a month. The consumer price index showed broad upward pressure on prices, not just fuel-related costs. This came after a monthly employment report Friday that also showed a more heated economy than analysts had predicted. "Given that the Fed explicitly said it was more focused on the inflation component of its job description at the moment (as opposed to the 'full employment' component), we were expecting today's data to carry far more weight than last week's jobs report. The reaction was logical an immediate," wrote Matthew Graham, chief operating officer at Mortgage News Daily. This jump comes after a monthlong reprieve in interest rates that finally brought mortgage demand back. Last week, mortgage applications rose 6.2% from the previous week, according to the Mortgage Bankers Association's seasonally adjusted index.

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