A surprisingly large increase in core CPI, which excludes volatile food and energy prices, means Fed policymakers are likely to start out with a modest 25 basis-point rate cut when they meet next week. Continue reading
Investors see a September rate cut as a certainty, but the latest inflation data suggests recession fears are overblown and the Fed will start out with a modest, 25-basis point reduction. Continue reading
The Federal Reserve’s preferred inflation gauge fell to 2.56 percent in May, getting closer to the Fed’s 2 percent target for the 2nd month in a row. Core inflation reading is lowest since March 2021. Continue reading
Homebuyers have yet to respond in force to drop in rates, which have been in retreat from 2024 highs for three consecutive weeks following Fed easing and soft jobs and CPI reports. Continue reading
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