Mortgage Rates Hit New Highs As Inflation Soars and Fed Policy Remains Uncertain

Mortgage rates pushed to new high of 7.57% as market reacts to Fed uncertainty and geopolitics.

Inflation rose 0.4% in September, indicating rates may rise further as Fed tries to reach 2% target.

Mortgage trade groups want Fed to be more transparent about rate path to reduce volatility.

Uncertainty over Fed's next moves has stalled housing market activity as affordability drops.

Shopping and comparing mortgage rates essential to find savings in high rate environment.