The Producer Price Index for April, released today, showed a considerably larger decline than had been expected, reaffirming market concerns about the state of the economy. However, the Consumer Price Index for April that will come out tomorrow will give us a much more comprehensive picture of what is actually happening.
More Quotes from Frank Nothaft:
That raised the expectation that inflation may be more of a threat than was previously thought, and that kind of thinking promotes upward pressure on mortgage rates like we saw across the board this week.Frank Nothaft
These numbers suggest that the Fed will remain restrained in its practice of raising short term rates, which may be an indication the Fed doesn't see inflation to be as great a threat as the markets previously had thought it would be.
Frank Nothaft
November's employment report was a letdown, and it brought mild disappointment to the financial markets, causing mortgage rates to recede. The lack of any job growth stalls the economic recovery and, in the long run, dampens the potential growth of the ho
Frank Nothaft
With mortgage rates low and consumer confidence high, Freddie Mac economists expect the housing market to remain strong in the months ahead.
Frank Nothaft
The consumer price index figures released this morning showed that the run up in oil prices has not been inflationary at the consumer level, much to the relief of mortgage lenders. And price stability in products other than oil have allowed for more money to go toward home buying and home projects.
Frank Nothaft
Financial markets are feeling more confident that the Fed will not raise rates any time soon. Add to that the fact that recent economic data shows core inflation is less than the market expects, and we see mortgage rates drop once again.
Frank Nothaft
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