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The Real Estate News Brief: Two Inflation Reports, Fed Minutes on What’s Next, Mortgage “Sweet Spot” for Homebuyers

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Sinopsis

In this Real Estate News Brief for the week ending April 15th, 2023… we have two inflation reports, the minutes of the last Fed meeting, and the results of a survey on an acceptable mortgage rate.   Hi, I'm Kathy Fettke and this is Real Estate News for Investors. If you like our podcast, please subscribe and leave us a review.   Economic News   We begin with economic news from this past week. The government released two reports on inflation that show prices are rising more slowly, but that inflation is still too high. The Consumer Price Index or CPI shows a small .1% increase in March, mostly due to lower food and gas prices. Energy prices were down 3.5% while groceries fell .3% including an 11% tumble for egg prices. Grocery prices are still 8.4% higher year-over-year, but those declines helped slow the yearly rate from 6% to 5%, which is the lowest we’ve seen since May of 2021. (1)   The news isn’t quite as good for the core rate, which strips out food and gas. That was up .4% and “raised” the annual rate f