This is a YouTube video titled "💫 More Big Inflation News!" containing a detailed monologue or presentation about recent inflation data and its impact on mortgage rates, recorded in December 2022. The speaker analyzes inflation trends, their effects on the economy, and forecasts future mortgage rate movements. There is only one speaker providing an informative update on economic conditions.
Big day in the mortgage world, just as we've been predicting so ever since last month's inflation reading, where rates got better by about a half percent for many lenders. We've marked December 13th on our calendar as the next big inflation report. And the core inflation came out today. It was, it was predicted or forecasted for a 0.3% increase in inflation. It came in under expectations, which is good news at points 2%. So sure, inflation did still go up a little bit over the month of November, but it went up less than everybody expected. What does this mean? Well, you can make it a strong statement that two back to back positive inflation reports is a changing in the tides. It looks like the mortgage world and mortgage rates are rerouting here and we're now back in a trend of lower rates in the, in the near future. So it doesn't solve all problems. Still, rates are up on the year, but this shows very good signs which we've been waiting for. And it also shows our economy is getting back into, into control. So the 12 month rolling average just dropped off last November's 0.5 inflation and replaced it with this November's 0.2% inflation. So inflation over the year got 0.3% better. And if we look just one or two steps ahead in January and February from last year, they were 0.6%. They were hot, hot inflation months. Those are going to start falling off the 12 month rolling average and we're going to start replacing it with lower and lower numbers. Inflation's getting back in the right direction and as it does, mortgage rates are going to continue.
