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  • Last week's tariff announcement, followed by this week's news of a 90-day pause on some of those tariffs, sent markets into a tailspin.
  • The Consumer Price Index showed cooling inflation in February. Many economists remain concerned about a tariff-induced increase.
  • Minutes from the Fed's last meeting showed concerns about stagflation, a period of slowing economic growth paired with rising inflation. 

Housing News

  • ICE reports more than 1/4 of major housing markets have pre-pandemic inventories, with 18 running a surplus of 15% or more.
  • ICE also reports slowing home price growth in the majority of markets. Still, 35% of markets show growth rates above their 30-year average.
  • Mortgage demand jumped 20% last week as rates briefly dropped. Purchase apps rose 9% for the week and 24% year over year. 

Market Minute Report - Mortgage News