Inflation rose 0.4 percent in February to an annual rate of 3.2 percent, with shelter and gas costs contributing substantially to the uptick, according to the the Bureau of Labor Statistics’ Consumer Price Index. Continue reading
Lender survey shows applications from homebuyers is down 12 percent from a year ago, as mortgage rates continue to rebound from December lows on stubborn inflation data. Continue reading
A recent working paper by the Federal Reserve Bank of Cleveland explores a new way to measure rent in the CPI that could give earlier insight into the direction of consumer housing costs. Continue reading
Tuesday’s big drop in rates followed an encouraging inflation report, with bond market investors now convinced the Fed is done hiking rates and may reverse course in the spring. Continue reading
Despite having cooled for more than a year, the median asking rent in the U.S. remained just $24 below its all-time high as of June 2023, Redfin reported. Continue reading
Housing costs were again the largest contributor to inflation, accounting for more than 70 percent of the annual increase of the Consumer Price Index, according to new Bureau of Labor Statistics data. Continue reading
The impact of high housing costs is expected to fall out of inflation, giving cover for the Federal Reserve to stop raising interest rates, economists said. But there are still warning signs. Continue reading
All items index increased 4.9 percent for the 12 months ending April, the smallest 12-month increase since the period ending April 2021, according to the Consumer Price Index Summary. Continue reading
The U.S. Consumer Price Index cooled to 5 percent in March compared to a year ago, but remained elevated overall despite efforts from the Federal Reserve to curb inflation, according to the Bureau of Labor Statistics. Continue reading
Mortgage rates have been inching up from 2023 lows following a strong jobs report and January’s Consumer Price Index readout, which shows only a slight cooling in inflation. Continue reading