Mortgage rates drop after CPI report, but the housing market is far from out of the woods

KEY POINTS

• The rate on the popular 30-year fixed-rate mortgage fell to 6.28%, but that’s still dramatically higher than where it was a year ago.
• The decline came after a lower-than-expected reading of the November’s consumer price index, or CPI, a widely watched measure of inflation.
• “There have been a handful of pieces of relatively good news for the housing market lately, but we’re far from out of the woods,” said one economist.

CNBC