The Market Update Desk September 11th
"Let's Roll" Todd Beamer"...
CPI report shows a healthy decline in headline CPI from 2.9% to 2.5% year over year. Core comes in hotter than expected at +.3%. The 3 month annualized rate of core is now at 2.02%, right at FED goals.
Shelter again gives us headwinds, up to .5% and now +5.2% year over year. Motor Vehicle Insurance is still up, but has started to decelerate, +.6% month over month. Overall Insurance and Shelter account for 89% of total inflation.
Mortgage applications UP week over week, and interest rates are now DOWN 1% compared to this time last year (MBA).
Fannie Mae and Pulsenomics release survey of 150 economists. Home appreciation will continue to grow higher than historical averages.
Respect to those that lost their lives 23 years ago....#RIP911
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