From the Weekly Mortgage Newsletter by M. J. Lachica
Mortgage rates continued to follow equities, last week, slumping downward as global concerns dominated discussion, along with an economy showing signs of deceleration. The LEI revealed a small decline, while weekly applications for jobless claims crept close to the 300K mark. Fortunately, inflation continues to remain docile, with the core CPI sporting a nominal 0.1% increase. Existing Home Sales skyrocketed upward, climbing by a record-setting 14.7%.