Shocking News: Summer Rates Expected to Favor You – Find Out How!

Today Inflation Rates Surging From Used Cars, Summer Rates Expected to Favorable

Inflation hit an all-time high last month, with used car prices up 4.4% and 50% year over year. However, this trend won't likely continue and this summer is expected to be favorable for rates as price increases decrease.

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Market wrap May 10th. A lot of the inflation came from used cars which were up 4.4% last month and are up 50% year over year which can't continue. This summer will be favorable for rates as we expect shelter to continue to crest and comparisons from last year get higher. Additionally the increases in used cars will likely not continue. While we are seeing a nice move in the bond market as we see more progress on inflation today we think we are embarking on a good time for interest rates. We believe next month could show even more progress. Following the inflation data the Fed futures market is now pricing in a 100% chance of a 25 basis point rate cut in September. Clearly not believing the Fed who is saying they will not cut this year. This could also help bond prices. MBA released their mortgage application data for last week showing that purchases increased by 5%. They are now higher 7 out of the last 10 weeks. Purchases are still down 32% from this time last year which was the highest numbers we have seen in history probably…

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Justin Kautz
JK Mortgage
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