Capping off last year, the United States experienced strong 2021 home sales after they notoriously plummeted throughout a sluggish 2020.
With the U.S. facing a tight labor market, record-setting inflation, and supply chain issues, December 2021 mortgage markets fluctuated.
As consumer spending drops, investors focus on two major pieces of data this week: retail sales and inflation.
In an action-packed week, analysts saw Central Bank meetings quickly offset high volatility for mortgage-backed securities.
As holiday consumer spending surges, the Federal Reserve plans adjustments for the recent colossal inflation, hitting a 30-year high.
In back-to-back months, the United States realized wondrous inflation. Not only did inflation reach a 30-year high in October, it did so again immediately after in November.
The theme of this week revolved around surprising consumer spending growth. As a result, retail sales saw an overall surge.
After months of back-and-forth discussion, last week saw inflation jump to a 30-year high as shortages compound.
This past week saw luxury home sales rise as the market overcomes age-old housing challenges. Although the market saw little economic news, mortgages rates also rose. Ultimately, investors still focus on higher inflation.
The past week saw strong consumer spending. This data offset weak inflation figures. As a result of the reporting, mortgage rates ended slightly lower.