
MarketMinute | Purchase Apps Continue To Rise
Consumer inflation was slightly higher in July but still met expectations, ramping up markets' bets that the Fed would cut rates in September. Wholesale inflation rose much more than expected in July, signaling tariff costs may trickle down to consumers in the coming months. Markets are currently betting on Fed policy rate cuts to begin in September. Mortgage rates already reflect the market speculation. The refinance share of mortgage activity increased to 46.5% of total applications from 41.5% the...
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