“Better-than-expected PPI report reinforces upcoming mortgage rate cuts”

Today in Mortgages

In this episode of "Today in Mortgages," we discuss PPI, refinances and rate cuts! Great news, the increase we saw for inflation was tied to PPI which is good for the housing marketing (Fed will look at these numbers in their next meeting). Shelter inflation accounts for 90% of price increases, and now that we are below the 3% inflation mark for the first time since 2020, we are hoping the Fed will see this and make more aggressive rate cuts. Our prediction is 25 basis point cut!
We also discuss the surge we are seeing in refinances. But, this is mainly due to debt consolidation, and not borrowers refinancing to reduce rates. We need to keep communicating with our borrowers and let them know where things are headed in the market so we can coach them through the rest of the year.
Listen in to learn about this and more!

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