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.
As inflation moderates, investors focus on new consumer price index (CPI) findings. During a light week, they looked towards the CPI inflation report for guidance.
This week, GDP fell short for a roughly neutral takeaway while inflation reached a new milestone. Overall, analysts saw an abundance of news.
After last year's events, no one prepared for an unpredictable 2021 as experts worry about inflation, recovery, and COVID-19.
The latest data shows that inflation continues its epic climb while home sales rapidly recover across the country. However, there was little economic news this week.
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.
Inflation spiked this week leading to a new mortgage rate reckoning. As a result, mortgage rates ended higher.