Fed Rate and Inflation data for September 2023
- mathewclagett
- Oct 20, 2023
- 1 min read
According to the US inflation calculator, the inflation rate for 9/2023 is at 3.70% witch is a slight increase from the 8/2023 rate of 3.67%.
The current national average mortgage rate for a 30 year loan as of 10/2023 is reported to be 7.80% for credit scores above 700.
As of 1/14/2025 the Inflation rate has calmed to 2.7% with the typical 30 year conventional mortgage rate ranging between 6.5% to 7%. VA and FHA rates typically range 1% to 2% lower depending on the borrower credit score and lender programs along with price points and down payments. Seller paid concessions are trending in the upward direction for rate buy downs and due to the recently changed realtor commission requirements. Inventory is beginning to show signs of increase in most areas, while some market areas remain in need. Price points are fluctuating in the Phoenix metro area with no substantial decline by measure in the past 12 months in most locations.