Average mortgage rates remain steady but elevated across the board as of Wednesday, February 12, 2025. All eyes are on this morning’s consumer price index for clues as to whether the Federal Reserve’s back-to-back rate cuts have helped move the inflation rate closer to the Fed’s 2% goal, influencing how many times it drops interest rates this year. Economists are expecting the fresh report to show inflation of 2.9% in January, matching December’s reading amid continued uncertainty around President Trump’s back-and-forth trade policies that may push inflation — and borrowing costs for large loans like mortgages — higher.

 

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