Each day the Research staff takes a look at recently released economic indicators, addressing what these indicators mean for REALTORS® and their clients. Today’s update highlights mortgage rates and inflation.
- The rate on a thirty year fixed rate mortgage remained relatively unchanged last week at 4.70%, but is down 25 bps from mid-April.
- The average annual inflation expectation in the U.S. over the next ten years declined by 9 bps to 2.30%
- The decline in inflation expectations and continued low long term interest rates may suggest expectations of slower economic growth. It may also suggest a preference for less risk assets.
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