The U.S. Consumer Price Index for April rose 4.2% from the same period last year, its sharpest rise since 2008. Fed officials have repeatedly suggested that along with inflation, employment will also have to pick up in a substantial and sustainable fashion before policy changes. Lately, fading inflation fears and a recent bout of soft economic data are helping bonds continue to rebound from Wednesday’s rough outing.

Refinancing activity spiked following a rate drop in early May. The MBA’s Market Composite Index posted a seasonally adjusted 2% increase in application volume from the previous week for the period ending May 7th. Driving the increase was the Refinance Index, which showed a 3% boost from one week earlier, rising to a point not seen since March.

Let’s see if higher inflation is indeed transitory or temporary in nature under market volatility. For current applications, keeping an eye on the market and/or locking in interest rates in time is strongly recommended.
美国4月份消费者物价指数较去年同期上升4.2％，是自2008年以来的最大升幅。美联储官员一再表示，除了通货膨胀外，在政策改变之前，就业也必须以实质性和可持续的方式回升。最近，对通货膨胀担忧的减弱和近期疲软的经济数据的回暖正在帮助债券继续从周三的艰难行情中反弹。

5月初利率下降后，重新贷款申请再次激增。截至5月7日，MBA的市场综合指数与前一周相比，经季节性调整后增长了2％，其中重新贷款申请的增长推动了该指数的增长，该指数较一周前增长了3％，上升至一个百分点。是自三月以来首次出现。

在市场动荡的情况下，较高的通货膨胀是否确实是暂时的或暂时的还有待确认。從申请人的角度来看，建议大家密切注意市场的變化及时锁定利率。
Economic Calendar 
Report Period Estimate Impact
Date: Mon. May. 17
Empire State Index May 24 Moderate
Housing Market Index Apr 83.0 Moderate
Date: Tue. May. 18
Housing Starts Apr 1.710M Moderate
Building Permits Apr 1.774M Moderate
Date: Wed. May. 19
FOMC Minutes Apr NA High
Date: Thu. May. 20
Jobless Claims (Initial) 5/15 453K Moderate
Philadelphia Fed Index May 44.0 High
Today’s Rates 
Daily rate based on: SFR/Primary/LTV60/FICO 780/Purchase
IMPORTANT: Advertised rates were valid and effective as of the date reflected above, are for informational purposes only, and are subject to change without notice.

Loans are subject to credit and collateral approval. Advertised rates are based on a set of loan assumptions including a borrower with excellent credit history and optimal loan characteristics. Your final interest rate and annual percentage rate (APR) may differ depending on your individual transaction’s specific characteristics, and certain products may not be available for your situation. Several determining factors include, but are not limited to, the state of the property location, loan amount, documentation type, loan type, occupancy type, property type, loan to value, and credit score.

APR reflects the cost of credit over the term of the loan expressed as an annual rate. For mortgage loans, APR may include the interest rate, discount points (also referred to as “points”), and other charges or fees (such as mortgage insurance and origination fees), but does not necessarily take into account other loan-specific finance charges you may be required to pay.

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