Capping off last year, the United States experienced strong 2021 home sales after they notoriously plummeted throughout a sluggish 2020.
Closing out 2021, the United States achieved a record-setting Core PCE Price Index. In doing so, Core PCE hit its highest level since 1989.
The theme of this week revolved around surprising consumer spending growth. As a result, retail sales saw an overall surge.
Investors focus on targeted MBS buying as Fed nears goals. However, Fed Chair Powell did not provide an updated timeline for policy changes. As a result, mortgage rates ended the week slightly higher.
In June 2021, the United States saw attractive mortgage rates alongside continually looming inflation. As a matter of fact, annual inflation rose to its highest level in June since August 2008.
After last year's partial economic shutdown, the outstanding economic rebound slows its growth while inflation explodes, leading to worry.
After another exciting month, the data showed that April 2021 inflation continued its monumental climb.
This past week was quiet seeing few economic developments, though housing inventory continues to really compromise home sales results.