Today (May 15, 2024) was a great day for mortgage rates! In short, inflation influences mortgage rates. Thus, the higher the inflation, the higher the mortgage rates (and vice versa). Today’s Consumer Price Index (CPI) report showed that inflation trending downwards (which is great for mortgage rates)! Below is chart that shows just how significant today’s news was for homebuyers and homeowners seeking a mortgage.

Here is a summary of how it works: “Candlesticks”

  1. With respect to rate quotes on any given day, these sections are subject to change until pricing is eventually “locked in”.
  2. In the chart below, the Red/Green images are called Candlesticks
  3. The Candlesticks are a direct influence to the Costs/Credits for each interest rate available
  4. Each Candlestick summarizes the activity for one business day (today’s business day is all the way to the right side of the chart – and highlighted)
  5. Green Candlesticks indicate “good news” for the direction of mortgage pricing
  6. Red Candlesticks indicate “bad news” for thedirection of mortgage pricing
  7. The larger the colored portion of the stick, the more the market moved in that “good news” or “bad news” direction that particular day


  1. The HIGHER the Candlesticks appear on the chart, the BETTER
  2. The LOWER the Candlesticks appear on the chart, the WORSE


Todays Government rates

Todays Government rates

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