Mortgage rates drifted slightly lower this week, held in check by price growth that remains below the target set by the Federal Reserve.

Rates decreased on Friday following the release of monthly jobs data. The report showed strong job growth figures, which usually results in upward movement for mortgage rates, but the markets’ main takeaway was that wage growth has slowed. Markets interpreted the deceleration as additional evidence that price growth will remain below target, preventing rates from substantial increases.

After a couple quiet days, rates inched downward again Wednesday following the release of Consumer Price Index data. The release–a core measure of inflation–exceeded expectations but showed that price growth still lies below the target rate set by the Federal Reserve.

Wednesday also saw the release of minutes from the March meeting of the Federal Open Market Committee, which confirmed that the Fed is unlikely to increase the federal funds rate this year. Low price growth was a central contributor to the Fed’s dovish policy adjustment last month, and many investors believe that without the threat of a meaningful uptick in inflation, it is highly unlikely that bond yields, and mortgage rates, will increase significantly.