After months of upward momentum, July 2022 mortgage markets finally reflected reduced inflationary pressures.
Looking back towards June 2022 mortgage markets, the Federal Reserve remains committed to combatting inflation.
This week, Wednesday’s CPI inflation report display stronger than expected results with a 9.1% gain this year.
Taking a look back at the May 2022 mortgage market, investor expectations surrounding inflation stabilized to some degree.
In a relatively quiet week for mortgage markets, investors saw steady job gains in the leisure and hospitality sectors.
Although the latest core PCE met expectations, investors grow increasingly concerned with slowing global economic growth.
While much of this week’s economic data met investor expectations, consumer spending surged in April 2022.
With the release of the April 2022 Core CPI data, inflation began to ease. This modest inflation decline allowed mortgage rates to stabilize.
As expected the Fed announced a rate hike this week in their latest step to combat inflation while Employment neared its consensus.
In a light week of reporting, March home sales fell as the real estate market grew increasingly aggressive.