interest rates: Mortgage Times
- 08/15/08 08:09 AM
Mortgage Markets Unfazed by Higher Inflation The week's headline economic report showed that inflation rose far more than expected in July, yet mortgage rates barely reacted and ended the week essentially unchanged. The July Consumer Price Index (CPI), the most widely watched inflation indicator, rose at the fastest annual rate since 1991. The core rate, which excludes the volatile food and energy components, rose at a 2.5% annual rate. The Fed's perceived comfort level for core inflation is between 1.5% and 2.0%. Mortgage rates usually move higher after an unexpected increase in inflation. This time they did not. Investors have started … (0 comments)
Mortgage Markets Unfazed by Higher Inflation
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