Inflation is the enemy of low interest rates. As such, the mortgage market was waiting patiently for this week’s key inflation report released this morning. Thankfully, it showed inflation was running a bit cooler than expected. Rates were already having a decent week due to other economic data both at home and abroad, but the inflation data added some momentum to the rally. The average lender is now at the best levels since June 23rd. Many of them are right in line with those levels. You’d have to go back to June 10th to see anything better. In outright terms, this leaves the average lender in the 5.625%-5.875% range for a best-case-scenario conventional 30yr fixed rate. Things can vary much more than normal depending on the particulars of a loan quote, and upfront “points” can have a much bigger impact than normal depending on the initially quoted rate. All that to say, it makes sense to consider upfront costs in conjunction with the rate itself. That’s always generally true, but it’s especially true right now.