Busy week, but no change to rates.

President Trump and Chairman Powell continue their war of words through the media.

Happy Friday from Local Mortgage!

It was a pretty busy week as far as economic data goes, but really no change in mortgage rates. We will end the week pretty much right where we started, right at 6.375% for our best 30 year fixed conventional scenario.

It was a big week for inflation, as this reading of the Consumer Price Index was widely anticipated, ahead of July Fed meeting where we could see the first rate cut of 2025. Core CPI was better than expected, coming in at an increase of .2% vs a .3% forecast. Keep in mind, when you hear inflation is going down, what they are saying is that inflation is not rising as fast as the last reading. Investors seem to be looking for a better report as bonds sold off on Tuesday after the CPI announcement.

But markets bounced back in the back half of the week. Bonds rallied a bit after the Producers Price Index on Wednesday showed better inflation indicators, plus the ongoing media spat between the President and the Fed Chairman seemed to fuel some bond purchases. We will have to wait and see how that plays out, your guess is as good as mine.

Next week will be a pretty light week for economic reports so investors will stay tuned into tariff policies and any news that might indicate a change in leadership at the Fed.

Hope everyone has a great weekend and thank you for watching.