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.