As of 7/17/2023 – LOWEST Core Inflation since 2021

Rates are looking better since last week’s CPI data … Bloomberg says this will mark a pivotal turning point for inflation …

3.0% Year Over Year and better than expected 3.1%
0.2% Higher for the Month and lower than expected 0.3%
4.8% CORE Year Over Year better than expected 5.0%
0.2% CORE Monthly Increase better than expected 0.3%

With the above numbers the markets are quite comfortable that there will only be one more rate hike after 7/26 which has already been priced into the market and has caused a 50 basis point drop in the 30 year fixed rates back down to the 6.25% range with no overlays or points.