Inflation Drops to 4%, Will Rates Follow…

TODAY’S RATES & HOUSING NEWS

https://m.bixel1.net/peifj4

Mortgage rates had an up and down week over the past 7 days.

Current interest rates are very similar to last week.

Below are average interest rates across the country according to Mortgage News Daily.

And below is Green Home Loans Rate Sheet.

Notice that we are significantly lower than the national averages. 

We are writing this report as of the morning of 6/13 and there are 2 important reports on the horizon.

The CPI inflation report is coming out as we are writing this update.

The expectation was the headline inflation number will drop from 4.9% to 4.2%.

And Core Inflation to drop from 5.5% to 5.3%.

JUST IN:  Inflation dropped to 4% and Core Inflation dropped to 5.3%.

This is a large drop, and we expect interest rates to drop because of it.

Interest rates follow inflation, and we expect the inflation numbers to continue to come down.

The inflation number is made by adding 12 months of monthly numbers to get a yearly inflation number.

Inflation was very high last Summer so the high numbers will be replaced by much lower numbers this year.

This is why we are so certain that inflation will come down. 

The FED also starts their meetings, which culminates in a press release and news conference, on Wednesday.

Most are expecting the FED to “skip” raising the Federal Funds rate this time to analyze more data before their July meeting. 

Below is a good article on the FED move and what they are looking at in their decision making:

https://www.mortgagenewsdaily.com/markets/mortgage-rates-06092023

MONTHLY MARKET REPORT & SUMMER BUYER/SELLER GUIDES

Here is the recording of Keeping Current Matter’s June Monthly Market Report:

If you would like full access to video and slides – please email Kalee Taylor @ kalee@mygreenhomeloans.com

Here are my favorite slides:

Below is KCM’s Summer buyer and seller guides.

Click link to view full guide and if you are an agent, please contact Kalee Taylor if you would like us to customize a guide with your picture and contact information:

https://www.mykcm.com/scripts/guide/?g=buyer&contactId=416053

https://www.mykcm.com/scripts/guide/?g=seller&contactId=416053