The May PPI inflation was unchanged, at 2.2%, below expectations of 2.5%.
Core PPI inflation fell to 2.3%, below expectations of 2.4%. Month-over-month PPI inflation fell by -0.2% compared to an expected increase of 0.1%.
US consumer sentiment has declined for a 3rd straight month to 65.6 in June, its lowest level since November 2023.
Initial jobless claims increased by 13,000 to 242,000, a 9-month high, for the week ending June 8th.
The median US home sales price hit another all-time high of $393,627 in June, a 4.4% increase from last year and 19% in the previous three years. Asking prices were, on average, lowered 6.5% of the time.
Asking rents increased to their highest amount since October 2022 to $1653 a month.
The Fed now expects only one rate cut in 2024 (Markets predict two) and four in 2025.
Today’s national average 30-year mortgage rate is 7.04%
