May 10, 2023 Interest Rate News

In this market update, we explore recent developments. Mortgage rates have held steady thanks to a welcome drop in inflation. The Consumer Price Index for April revealed a lower-than-expected 4.9% year-over-year increase, the lowest since April 2021. Lower housing costs are playing a role in reducing inflation, a trend expected to continue through 2024. The prospect of the Federal Reserve pausing on rate hikes is growing, with financial markets showing just a 1.5% probability of a hike in June. However, the looming debt ceiling debate and the "sell in May" adage add uncertainty. A chart analysis suggests a potential rate improvement on the horizon. Read More...

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