May 2022 Mortgage Market: Rates Plummet with Limited Activity
Taking a look back at the May 2022 mortgage market, investor expectations surrounding inflation stabilized to some degree.
High Inflation Leads To Reduced Mortgage Applications
In recent months, high inflation (and higher mortgage rates) took a large toll on mortgage application volumes.
The Latest Core PCE Meets Expectations as Mortgage Rates Decline
Although the latest core PCE met expectations, investors grow increasingly concerned with slowing global economic growth.
Consumer Spending Surges in April 2022 with Impressive Retail Sales
While much of this week’s economic data met investor expectations, consumer spending surged in April 2022.
April 2022 Mortgage Rates Now Climbed to 2009 Levels
Last month, investors focused on elevated inflation levels on as April 2022 mortgage rates climbed to their highest levels since 2009.
April 2022 Core CPI Showed Easing Inflation Just Arrived
With the release of the April 2022 Core CPI data, inflation began to ease. This modest inflation decline allowed mortgage rates to stabilize.
Fed Announces Rate Hike This Week To Combat Soaring Inflation
As expected the Fed announced a rate hike this week in their latest step to combat inflation while Employment neared its consensus.
GDP Reading Fell to Lowest Level Since Spring of 2020
In a light week of economic reporting, the major news encompassed the latest GDP reading, which fell to the lowest level since spring 2020.
March Home Sales Fall Due to Limited Inventory & Soaring Rates
In a light week of reporting, March home sales fell as the real estate market grew increasingly aggressive.
March 2022 Mortgage Rates Rise as the Market Stays Volatile
Last month, March 2022 mortgage rates soared at an unexpectedly fast pace as the market stays volatile this year.