It was a quiet week in economic news this week. Today, Friday, we got the news the that CPI was unchanged.
It’s been a long time since I have seen that. The Core number, though, was up stronger than expected. Thursday the weekly jobless claims went 7000 to 275,000. Wednesday we learned that the January Producer Price index was up .1%.
But the big news was that January housing starts were down 3.8%, and permits were down .2%, a mixed bag of good and bad, so no movement in rates. All in all, a quiet week. Rates remain the same from last week on Friday when rates jumped up .125% from the low low low on Thursday.
I always say – Lock In. Don’t gamble by waiting, and when we see a new bottom don’t “dream” that they may go lower because that may be the bottom and you miss it. Like last Thursday’s 3.25% 30 year fixed.