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  1. Mortgages
  2. Mortgage Rates

The Latest Inflation Numbers Are Good News for Mortgage Rates

By: Leslie Cook
Leslie Cook, expert in Mortgages, housing market, home renovations, consumer credit, and Editor, Real Estate at Money
Leslie Cook
Editor, Real Estate | Joined November 2019
Leslie Cook is Money’s lead mortgage reporter covering trends in the housing market, mortgage rates and real estate. She also writes about home renovation trends and tips.
See full bio
Editor: Samantha Sharf
Samantha Sharf, Editor at Money
Samantha Sharf
Editor | Joined May 2020
Samantha Sharf is Money's real estate editor. She previously wrote about amazing homes and billion-dollar real estate entrepreneurs for Forbes.
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Published: Nov 11, 2022 5 min read
Photo illustration of house shaped cloud and percentage signs in the sky
Money; Getty images

Hope for relief from rapidly rising mortgage rates was revived this week when October inflation numbers came in lower than expected.

Consumer prices continued to increase last month but at a slower pace than at any other point this year. The latest report from the Bureau of Labor Statistics indicates that year-over-year inflation fell to 7.7% in October, half a percentage point lower than the September reading of 8.2%.

The lower reading means that the Federal Reserve may finally ease up on its aggressive campaign to tame inflation, says Lisa Sturtevant, chief economist at Bright MLS, a home listing platform that serves the Mid-Atlantic region.

“I think they’re starting to see interest rate hikes have the intended effect,” says Sturtevant, allowing the Fed to “back off those regular increases to the federal funds rate.”