Has inflation peaked in the U.S.?

July’s Consumer price index (CPI) came in today at 8.5%, indicating inflation may have reached a peak. However, it’s hard to know for certain until the next CPI report in September.

In the meantime, this gives the Federal Reserve a lot to consider ahead of their meeting next month. The big question is whether they’ll pull back to a more modest 50-basis-points increase, or stick with their plan for another 75-basis-points hike.

Lock in your mortgage rate early

In this topsy-turvy mortgage rate market, it pays to lock in a good rate when one comes along. A quarter point swing up or down could either save or cost you thousands of dollars over the life of your loan.** Rate lock policies vary by lender, but typically once you get your application approved, and then right before it’s submitted for underwriting, you lock in a rate.

Locks can last anywhere from 60-90 days and can help protect you if rates jump up while you’re house shopping. And if rates go down, some lenders offer a one-time ‘float down’ allowing you swap your current locked in rate for a lower one.*

Home inventories on the rise?

National inventory of homes for sales grew for a third consecutive month in July. Active listings jumped 30.7% over 2021.

More homes on the market hopefully give buyers a little more leverage, although this could take a while to materialize. The good news is, we might be seeing a major shift in the housing market where supply and demand finally start to balance out.

Applicant subject to credit and underwriting approval. Not all applicants will be approved for financing. Receipt of application does not represent an approval for financing or interest rate guarantee. Restrictions may apply. All information provided in this publication is for informational and educational purposes only, and in no way is any of the content contained herein to be construed as financial, investment, or legal advice or instruction. Guaranteed Rate does not guarantee the quality, accuracy, completeness or timelines of the information in this publication. While efforts are made to verify the information provided, the information should not be assumed to be error-free. Some information in the publication may have been provided by third parties and has not necessarily been verified by Guaranteed Rate. Guaranteed Rate & its affiliates and subsidiaries do not assume any liability for the information contained herein, be it direct, indirect, consequential, special, or exemplary, or other damages whatsoever and howsoever caused, arising out of or in connection with the use of this publication or in reliance on the information, including any personal or pecuniary loss, whether the action is in contract, tort (including negligence) or other tortious action.

All information provided in this publication is for informational and educational purposes only, and in no way is any of the content contained herein to be construed as financial, investment, or legal advice or instruction. Guaranteed Rate does not guarantee the quality, accuracy, completeness or timelines of the information in this publication. While efforts are made to verify the information provided, the information should not be assumed to be error-free. Some information in the publication may have been provided by third parties and has not necessarily been verified by Guaranteed Rate. Guaranteed Rate its affiliates and subsidiaries do not assume any liability for the information contained herein, be it direct, indirect, consequential, special, or exemplary, or other damages whatsoever and howsoever caused, arising out of or in connection with the use of this publication or in reliance on the information, including any personal or pecuniary loss, whether the action is in contract, tort (including negligence) or other tortious action. 

* Applicant subject to credit and underwriting approval. Not all applicants will be approved for financing. Receipt of application does not represent an approval for financing or interest rate guarantee. Restrictions may apply.

** Savings, if any, vary based on consumer’s credit profile, interest rate availability, and other factors. Contact Guaranteed Rate for current rates. Restrictions apply.