Daily Market Report 9/14/21

By
Mortgage and Lending with Evolve Bank & Trust NMLS #275652

http://MikesDailyMarketReport.com:  The big report for this week was released, which is the CPI, or Consumer Price Index.  This index measures inflation on the Consumer level.  The CPI rose 0.3% in August, however, it's YoY dropped by 0.1% to 5.3%.  The Core CPI, which excludes food and energy (and viewed more closely), rose only 0.1% in August and it's YoY dropped by 0.3% to 4.0%.  This may indicate that we've reached out peak with inflation and may see it reside a bit further, as we continue to reopen the economy.  This may create some confusion as to the Fed's next move next week, as inflation now appears to be subsiding a bit and the poor jobs report.  There will be questions if they taper this year or next.  Meanwhile, Stocks are in the Red.  MBS is benefitting from the pullback in the Stock Market, as they're currently Up 16bps, so Mortgage Rates are better today.  Yields dropped below 1.30% to just under 1.27%.

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Comments (1)

Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

Good to see that inflation is easing. If I remember correctly Powell predicted that the high inflation numbers over the summer were going to be only temporary.

Sep 14, 2021 02:03 PM
Mike Bjork

Definitely good to see!  I don't think everything will come down, as some items, like higher wages, rent and a few other things will remain.  However, a few items will subside.  Thanks for leaving a comment, Debe!  Have a great rest of your week!

Sep 15, 2021 11:42 AM