After last week’s frenetic pace of economic news ending with the Fed report and Core Personal Consumption Expenditure (PCE) Index matching expectations, we get a breather until Thursday’s initial jobless claims and Friday’s unemployment rate for this week.
There is a common consensus among economists that the Fed’s target zone on inflation is 1-2%. Last Thursday’s report on consumer inflation was at 1.9%. That coupled with the Core PCE coming in as expected allowed our clients to take advantage of a brief dip in mortgage interest rates on Friday. Please ensure your clients keep in close contact with their mortgage professional during these volatile times. Thank you for the opportunity to serve you and your clients.