The latest economic report highlights a concerning trend in inflation, which has not only stalled but actually increased. This development has significant implications for the mortgage industry and the overall economy. Key points to note include:

– Inflation has not just stalled, but has increased, according to the latest economic report.
– The news almost certainly rules out a rate cut in the near future, particularly in June.
– Traders are increasingly skeptical that there will be more than a couple of rate cuts in 2024, if any at all.

This development is expected to impact consumer prices, which were up 3.5% in March. Mortgage industry experts are closely monitoring these inflation trends as they navigate the complex landscape of interest rates and market conditions. Stay informed on the latest updates as the situation continues to evolve.

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