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- Last month's Fed minutes showed officials are no longer considering policy rate cutes but instead are weighing rate hikes as inflation moves higher.
- Applications for unemployment benefits remained low last week, signaling layoffs are still relatively limited despite recent job cut announcements.
- Economists expect inflation to worsen in the coming months, with consumer prices projected to rise as much as 6% in the second quarter.
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- Builder sentiment edged higher in May despite rising rates, economic uncertainty, and high construction costs.
- According to the NAR, pending home sales in April increased by 1.4% month over month and rose 3.2% year over year, signaling a strong spring market.
- Single-family housing starts saw their largest decline in nearly a year in April as builders grew more cautious on demand.
