The official unemployment rate, as reported by the Bureau of Labor Statistics (BLS) in their “The Employment Situation” report for December 2023, held steady at 3.7%. This matches the level reported in November 2023 and remains near historical lows.
Unemployment Remains Low, But There Are Signs of Weakening Read More »
The headline inflation reading was 3.4% for December 2023, showing an uptick from the previous month’s reading of 3.1% (bls.gov). Core CPI, excluding volatile food and energy prices, rose 0.3% for the month and 3.9% from a year ago.
Inflation is Cooling but Will Not Reach the Fed’s Target Rate of 2% in 2024 Read More »
At 7.79% in October 2023, the 30-year fixed mortgage rate reached its highest level since 2001 according to Freddie Mac data, but since then it has been experiencing a downward trend. The rate was at 6.66% on Jan 11th, 2024, 33 basis points higher than its level a year ago. However, mortgage rates have been at the 6.6% level for the last four weeks as economic data continues to show a strong economy.
Will Mortgage Rates Fall Enough to Unlock the Frozen Housing Supply? Read More »
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