Friday Market Update for the Week of December 10th 2021

Happy Friday, Brian Manning here with the weekly update. Let’s see. What do we got going on this week? So really this week we had CoreLogic coming out with housing appreciation. On a year over year basis, housing appreciation was up 18%. So CoreLogic, very much in line with the FHFA and Case Shiller so just incredibly strong housing throughout this entire year. Also got Apartment List. They came out with some information on rents, and this is insane. Year to date, rents are up 18%. I was just reading an article this morning and said in some areas such as Sarasota, Florida, rents are up 40%. So rent rents have just definitely gone up and there’s just inflation everywhere. Speaking of inflation, today, we get the CPI. So CPI is the consumer price index, we really think that’s one of the favorite gauges of inflation because it includes out of pocket medical expenses, and housing expenses. So we look at the core rate because the core rate strips out volatile items such as food energy, and the core rate went from 4.6% to 4.9%. I think it’s the highest number since like 1982. So certainly seeing inflation definitely just giving the Federal Reserve the red light to accelerate tapering of their bond buying program. We’re probably going to see more coming up in the next week or so. Certainly giving the Federal Reserve green light for some rate hikes which we’ll start talking about in other upcoming Friday updates and rate hikes aren’t necessarily a bad thing because they’re going to combat inflation. And certainly Fed rate hikes could actually help mortgage rates go down. So we’ll have to talk about that in the future because I know it sounds completely counterintuitive. I’m around all weekend. If you have any questions, let me know. I’d love to help you in any way I can. Happy Friday. Hope you have a great day.