
MarketMinute | Purchase Applications Rose & More
Fed Chair Powell's semiannual testimony before Congress this week was good for mortgage rates. Powell said Fed bond purchases would continue while the economy recovers. Inflation climbed higher than expected in June. Consumer prices rose 5.4% year over year and saw the biggest monthly gain since August 2008. Inflation is still being seen as transitory. Jobless claims fell to a pandemic low last week, as the labor market continued to improve. More than half of U.S. governors have announced plans to end enhanced benefits early. Treasury Secretary Janet...
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