It was exciting news, and this afternoon’s inflation report should have an almost immediate effect on mortgage interest rates, improving the outlook for buyers--and sellers. Stronger seller confidence, though, could re-energize the market and harden home prices. We’ll see. Here’s what happened:
The consumer price index, a key inflation barometer, jumped by 7.7% in October relative to a year earlier — the smallest 12-month increase since January. Economists expected a 7.9% annual increase, according to Dow Jones.
Read the full post on our website and have a wonderful holiday weekend, all!
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