- The Fed kept policy rates unchanged at this month's meeting, but more officials forecast rate increases in 2023. The markets' response to Fed comments pressured rates higher.
- Inflation concerns grew this week, as May's producer prices rose at their fastest annual clip in nearly 11 years. Inflation increases are bad for mortgage rates, pushing them higher.
- Jobless claims continue to come in closer to what economists consider a normal range, a sign that the labor market continues to improve despite high continuing claims numbers.
- Homebuilder sentiment was down slightly in June from recent highs, as builders struggle with higher costs and declining availability of lumber and other building materials.
- Housing starts rose 3.6% to a seasonally adjusted annual rate of 1.572 million units last month, supported by an acute shortage of previously owned homes available for sale.
- The current hottest home outdoor amenity is a pool. Inground pools are in high demand, causing longer waits and higher prices for homeowners on a quest to create a staycation oasis.
