This is a YouTube video titled "Mortgage Update ! 7/11 CPI Inflation Report #homeloans #mortgageloanofficer #homebuyer" containing a financial update on the June CPI inflation report and its positive impact on mortgage rates. The speaker discusses recent inflation trends, Federal Reserve rate cut expectations, and advice for home buyers, recorded in July 2024.
More good news in interest rate world Today. The monthly CPI inflation report for the month of June came out and the results were fantastic. The forecast was a 0.2% increase in inflation from the month of June. It actually came in at 0.1%. Anything below the expectations is a win for mortgage rates. We talked about this the last few years. This is the biggest report every single month for the mortgage rate world. And it's going to take a second for the market to digest that. Rates are going to continue getting better. If you look at the last four months of inflation, it went from 0.4, 0.3, 0.2 and now 0.1. The Fed wanted to see that we're on a downward trajectory and we are. So this is going to influence their rate cuts and how soon they do it, which will add rocket fuel to mortgage rates going lower. Inflation is at the lowest it's been since April of 2021. If you remember, back in 2021, mortgage rates were pretty darn good. They were still at record lows. Now, we're not going to go back to those levels, but we're going to head in the right direction here. So this is another big step, another month of good inflation news. As we've been talking about for quite some time, look for mortgage rates to continue getting better. If you're a home buyer, jump on it now because the news is just now getting out. Buyer activity is going to continue picking up this summer.
