Yesterday’s Consumer Price Index report for October showed a lower-than-expected increase in inflation. Many believe, based on the numbers, that inflation rates may have peaked. Investors cheered and the stock market showed its biggest increase since bouncing back from the pandemic-caused bear market in 2020.So, what does yesterday’s news mean for housing in the short term?
- Higher real estate consumer confidence as fears of inflation will likely subside and people will feel wealthier as their investment accounts rebound
- Lower mortgage rates because they track the yield on the 10-year treasury which has fallen over 8% since Friday
Yesterday’s news certainly is a positive for Front Range real estate.