MarketMinute | How many millennials own homes?
Consumer inflation continued its slow-but-steady deceleration last month to the lowest level since April 2021, slightly better than March. Wholesale inflation is also cooling, coming in better than expected. Producer prices increased at the slowest pace since early 2021. The labor market is showing signs of fatigue as well. New unemployment claims hit a 1-1/2-year high. Continuing claims also rose. According to NAR, home prices are still rising in most areas of the country. However, prices fell in 31% of metro areas, some as much as 10%. Purchase mortgage applications rose 5% last week despite still being lower than...
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