On Tuesday, we got more confirmation that the Federal Reserve‘s biggest fear — inflation  blowing up to 1970s levels — isn’t happening, according to the CPI data. Even with its most significant component, shelter inflation, keeping core CPI higher than it should be, it’s been hard to accelerate the core data.

However, with the current banking stress news and the emergency action taken by the Fed to secure the banking sector, the question now is what will drive mortgage rates: inflation data, recessionary data, or something else we don’t even see coming? details ⇒

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