By admin1
To find out if now is the time to buy, check out this week’s mortgage highlights:
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The Fed’s favored inflation gauge, the PCE, sported an eye-popping 3.9% increase last week, its highest level since 2008. The core reading of this index hit 3.5%, a nearly 30-year high. -
While mortgage rates did move upward, the market appears to be mostly accepting the Fed’s position that this round of inflationary pressures is transitory and will abate in the coming months. -
The month-over-month growth in the PCE core reading may be the first sign as its growth slowed to 0.5% from the previous month’s 0.7% increase. -
By nearly all measures, the economy continues to rebound. The first quarter’s GDP remained unadjusted at 6.4%, and some models predict a second-quarter GDP over 8.0%. -
The housing market continues to struggle with inventory, labor, and supply chain issues. -
This week’s economic data includes Consumer Confidence, the ISM Manufacturing Index, and the monthly employment data. While the ISM may slip backward slightly, it will continue to show strong growth. -
Rates are likely to remain mostly level unless the virus’ delta variant makes more news.
Prime Time To Become a Landlord?
At the beginning of the pandemic, many rental units emptied as students, young adults, and others moved in with family and friends. That trend has fully reversed, and rental rates are up 5.3% over the last year. With many facing challenges in buying a home, more are turning to single-family rentals.
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