What a difference a few hours can make. 🚨
After this morning’s PPI inflation report and another surge in oil prices, markets are now pricing roughly a 70% chance of a Fed RATE HIKE next week.
And traders are even considering another hike before the end of the year.
Why?
🔥 Wholesale inflation: 5.4% YoY
🛢️ Oil: Above $100/barrel
⛽ Energy costs still climbing
📈 PCE inflation: Still well above the Fed’s 2% target
And we aren't finished yet.
Tomorrow morning we get CPI, the final major inflation report before next week’s Fed meeting.
But remember: mortgage rates don't wait for the Fed.
The bond market is already reacting.
Have questions about buying, refinancing, or tracking your mortgage rate in California?
Call or text 925-885-1919, request a video or phone appointment, enroll in free RateAnalyzer rate monitoring, or start our Quick Application.
Russell McDonald | NMLS 290837 | Broker CA DRE 01150730
Wymac Capital Inc | NMLS 18766 | Broker CA DRE 01121628
Real Estate Broker – CA Dept of Real Estate