Inflation reports have shown their cards, and they have come in line with expectations. These newer reports rely on less data from sources overall, which is why the PCE Index remains the Federal Reserve's preferred inflation indicator—and that distinction is even more relevant now. Despite inflation coming in as expected, consumers are still feeling the steady pressure of price increases that are not keeping pace with wage growth. This is also consistent with what the PPI has shown, indicating that manufacturers are experiencing persistent inflationary pressure as well, though still in line with expectations. The Federal Reserve is still expected…

The trade deficit dropped significantly this month, resulting in the smallest gap in the last 16 years. This has been entirely driven by the ongoing gold rush and, to a much less impactful degree, businesses working their way around high tariffs. The unemployment reports, however, have shed another light, showing a steady trend of unemployment rising and reaching a four-year high as of last week. This is somewhat offset by consumer sentiment, which showed a slightly positive increase alongside relative improvements in the economy. All in all, the data points to mixed results for the broader market. The upcoming week…

With the only notable item on the schedule being the release of the Federal Reserve minutes, which reflect the current stance of the Fed, virtually nothing has changed since the last rate cut. The Federal Reserve is expected to continue its wait-and-see approach. Primary Mortgage Market Survey Index 15-Yr FRM rates saw a decrease of -0.06% with the current rate at 5.44% 30-Yr FRM rates saw a decrease of -0.03% with the current rate at 6.15% MND Rate Index 30-Yr FHA rates saw no change for this week. Current rates at 5.85% 30-Yr VA rates saw no change for this…