Expect Shelter disinflation to come to a halt soon. Nearly one year of a decline in mortgage rates erased in a few weeks, due to higher oil prices, higher inflation expectations, and therefore higher yields. Why is this important? Shelter is 33% of headline CPI.

St. Louis Fed
@stlouisfed
Average fixed mortgage rates rose in the week ending April 2, to 6.46% for the 30-year and 5.77% for the 15-year https://bit.ly/3POttQ7

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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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