Blain Realty, Inc.

Mortgage News

 

Mortgage rates trended lower, brushing the lowest levels since the beginning of May.

Mortgage application submissions increased to the highest level in over a month.

Inflation was cooler than expected in May. Continuing jobless claims increased.

 

 

 

         

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  • Mortgage application submissions surged 12.5% during the week ending 6/6. The Refinance Index increased 16% while the seasonally adjusted Purchase Index increased 10%.
  • Inflation on the consumer price index (CPI) increased 0.1% in May, which was a slower-than-expected increase. Annual inflation increased slightly compared to April, rising to 2.4%. Core annual inflation (which strips food and energy costs) was even higher, at 2.8%.
  • Continuing jobless claims increased 54,000 during the week ending 5/31, bringing the total number of claims to 1,956,000. Initial jobless claims remained unchanged at 248,000 during the week ending 6/7.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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