Applications for purchase mortgages drops for a 5th consecutive week to the lowest level since October as mortgage rates continue to hover above 6%, MBA lender surveys show
The Consumer Price Index rose 2.4% year over year, slightly above April's 2.3% increase. Month over month, prices edged up just 0.1%, compared to 0.2% in April
In less than a week, a series of reports has changed the outlook for the timing and magnitude of future Fed rate cuts, sending mortgage rates into a 5-day tailspin back below 7%