At its Wednesday meeting, the U.S. Federal Reserve tightened monetary policy by a massive amount, while other global banks fight inflation.
Taking a look back at the May 2022 mortgage market, investor expectations surrounding inflation stabilized to some degree.
While much of this week’s economic data met investor expectations, consumer spending surged in April 2022.
Last month, investors focused on elevated inflation levels on as April 2022 mortgage rates climbed to their highest levels since 2009.
With the release of the April 2022 Core CPI data, inflation began to ease. This modest inflation decline allowed mortgage rates to stabilize.
In a light week of reporting, March home sales fell as the real estate market grew increasingly aggressive.
Last month, March 2022 mortgage rates soared at an unexpectedly fast pace as the market stays volatile this year.
As investors focused heavily on the high inflation, mortgage rates rose to their highest levels since late 2018.
This week, investors kept a close eye on the conflict in Ukraine, though Federal Reserve news awaited investors.
Rising inflation levels continued to induce massive daily market volatility for February 2022 mortgage rates.