As millions of Americans wait for this inflationary cycle to cool, the Bureau of Labor Statistics on Wednesday announced a slight drop in the inflation rate for April. Down to 3.4% from March's 3.5%, the drop was minimal but still welcome after inflation rose in the two months prior. While still significantly above the Federal Reserve's target 2% goal, any fall is welcome news for borrowers. And it's especially important for homebuyers looking to purchase a property.
Still, mortgage rates change daily, and if buyers look to lock in a rate today — or this week — they'll likely be better served than if they waited for the next big financial news cycle. Explore mortgage rates and lenders online today.Why you should lock in a mortgage rate nowNow could be a great time to lock in a mortgage rate, if only to capitalize on the cooling inflation news. But there are other reasons to be proactive now.
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