• Surging food, energy, and shelter costs pushed consumer prices up 8.5% in March, slightly hotter than expected and the highest since 1981.
  • The prices that goods and services producers pay also rose. Wholesale inflation hit 11.2% in March, the biggest gain on record.
  • New unemployment applications remained near historically low levels, as employers held onto workers in a tight labor market.

  • Large investors have increased cash flow to devote to housing, having accumulated $89 billion for building or buying rental homes.
  • Housing inventory is up 8.3% since its seasonal low in March. Inventory remains 65.1% lower than the same week in 2020.
  • As fixed mortgage rates surge, applications for adjustable rate mortgages have increased and now make up 7.4% of total applications.