Mortgage Rates Update: Data from the major inflation report I pointed out last week showed no cooling in the economy. Consumer spending reported higher than expectations, while other measures came in as anticipated. Despite the negative data, rates did not creep higher and in fact the market is even more optimistic now that there will…

Wednesday brought us the 2nd worst day for mortgage rates since October of 2022. All measures of inflation showed that it is not heading towards the Fed’s target of 2%. Thursday brought some relief with a favorable Producer Price Index, but import data Friday, growing tensions in the Middle East and retail sales data this…