Despite inflation, mortgage rates remain inexplicably flat
Despite inflation, mortgage rates remain inexplicably flat
The Federal Reserve has announced it is going to drain the inflation swamp starting in January with a 25% reduction ($10 billion) in monthly mortgage-backed securities purchases. And it forecasts three one-quarter-point rate increases in 2022.
Wholesale prices jumped to a year-over-year record of 9.6% in November, according to the U.S. Labor Department. The core producer index jumped 6.9%.
Now,…