Today’s inflation data has shown that the peak growth rate of inflation is behind us. This should also mean mortgage rates hit their highs. The key phrase I have stressed since I wrote about the case for mortgage rates to go lower on Oct. 27 is thinking 12 months out. The trend is your friend, and the month-to-month data has cooled off noticeably.

That cooling happened even with the biggest inflation component — shelter inflation — still rising in the lagged modeled CPI data. This means shelter inflation isn’t details ⇒

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