CPI report has investor’s focus during a light week in economic news. The held no surprises with lower mortgage rates ending the week.
After two years of exceptionally low mortgage rates, a major change took place in 2022 in relation to wage growth.
As mortgage rates reached their highest rates in over twenty years, September existing home sales fell for the eighth straight month.
With the August 2022 CPI report, investors fully understand the driving force behind climbing mortgage rates.
With this week's data release, European inflation surges spiked bond yields and mortgage rates in the United States.
After months of upward momentum, July 2022 mortgage markets finally reflected reduced inflationary pressures.
Job Gains were better than predicted despite a consensus forecast of just 250,000, the economy added 372,000 jobs in June.
Taking a look back at the May 2022 mortgage market, investor expectations surrounding inflation stabilized to some degree.
In recent months, high inflation (and higher mortgage rates) took a large toll on mortgage application volumes.