‘Calmer inflation means lower mortgage rates — eventually’: Housing drives inflation, but U.S. property market is cooling

Shelter costs rose 0.6% in March from the previous month, compared to an increase of 0.8% in February.

The U.S. economy is still dealing with high inflation, but the housing sector is showing signs of cooling off.

The Consumer Price Index rose 0.1% in March from the previous month, according to the latest report from the federal government. It was the smallest uptick in 3 months, and was lower than usual due to an easing in energy costs.Economists said the latest CPI data indicated a slowdown in housing inflation, which ultimately will benefit home buyers.

Yun said it appears “very likely” that mortgage rates will fall below 6% towards the end of the year. U.S. consumers are slightly less pessimistic, and expect rates to be in the 8% range. Private data sources, such as from Apartment List, show that the rent index is only up 2.6% year-over-year, versus the federal government’s estimate of 8.8%, as seen in the chart below.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

MarketWatch /  🏆 3. in US

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Shelter-in-place order lifted as boat fire smoke dissipatesA fire onboard a fishing boat has been ongoing since early Saturday morning, the U.S. Coast Guard said, but crews are still working on containing the blaze.
Read more »

Alcoholic dog suffering withdrawal ‘a first’ for animal shelter: ‘tragic’The adorable pooch is now sober after developing an alcohol dependency issue.
Read more »

Anchorage Assembly to vote on resolution to close shelter at Sullivan ArenaThe Anchorage Assembly is set to vote Tuesday on a plan to close the Sullivan Arena as a homeless shelter.
Read more »

Highly contagious dog disease forces closure of Sugar Land Animal ShelterPetopia, the city of Sugar Land’s animal shelter, is closed to the public for four to...
Read more »

'Evacuate or shelter in place' Crews battle large industrial fire in RichmondRICHMOND Wayne Co. Emergency Management is ordering anyone within half of a mile from a large industrial fire in Richmond to evacuate. Firefighters are battling the flames at a war...
Read more »