Consumer prices fell for the 3rd straight month in May. Underlying inflation was weak, as demand remained subdued. Low inflation typically helps keep rates low. |
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At their June meeting, the Fed renewed their commitment to purchasing mortgage bonds. Their purchases increase demand and support low rates. |
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Initial jobless claims last week came in at 1.542 million, continuing the trend of weekly improvement. The continued claims number also fell to 20.929 million, from 21.268 million. |
The pandemic seems to have made buyers even more eager to purchase a home. A recent survey shows first-time buyers and millennials may be the most motivated. |
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Housing experts predict the pandemic may make consumers more dependent on agents moving forward. Agents are increasingly employing technology to digitize sales. |
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The pandemic will likely speed employers' adoption of remote work. As consumers untether from offices, they will have more flexibility to move away from expensive cities. |