MarketMinute | Is Inflation Cooling? - Greenway Mortgage Blog

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MarketMinute | Is Inflation Cooling?

Dec 2

2:17

AM

Category | Markets in a Minute

A gauge of consumer spending posted the 2nd smallest increase this year, offering hope that the Fed's policy rate hikes are cooling inflation.

Consumer confidence fell in November to the lowest level since July, a sign the economy could be slowing, which could help rates.

Jobless claims rose last week to the highest number since February. A cooling labor market could also help rates and inflation.

Housing News

Home prices rose 10.6% year over year in September, according to Case Shiller, though prices fell 0.8% from the previous month.

Pending home sales fell for a 5th straight month in October, down 4.6%. However, buyers are expected to return in the coming months.

Conforming loan limits increased from $647,200 to $726,200 for 2023. High-cost areas now break 7 figures with limits of $1,089,300.