Mortgage industry experts analyze recent CPI data which reveals a slight decrease in inflation, dropping to 3.3% annually from 3.4% in the previous month. Despite this dip, shelter costs continue to remain high, signaling ongoing challenges for potential homebuyers. Key points from the data analysis include:

– CPI data released Wednesday morning shows inflation rate decreased to 3.3% annually in May
– Inflation rate was slightly lower compared to the previous month’s 3.4%
– Shelter costs remain high, suggesting continued financial strain for prospective homebuyers

Industry professionals will closely monitor these trends to assess their impact on the housing market and mortgage rates, as consumers navigate the evolving economic landscape.

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