CPI Consumer Price Index is the measure of change over time and is the prices paid by consumers for a market basket of good and services.

Why this number is important is it reflects inflation which is the value of money over time. The lower the inflation the less erosion of value.

October’s CPI number was unchanged and seasonally adjusted only rose 3.2 percent over the last 12 months compared to September’s numbers at 3.7%.

The graph below is the daily change in Mortgage interest rates. Up is lower rates. October 16th was 8.0% interest in the news. As you can see we have slowly and steadily moved off those high rates.

Get out there and get pre-approved. I keep harping on this for a good reason. We do Soft Pull Credit on all of our pre and conditional fully underwritten approvals. No harm to your credit.

We can already see it getting busier, so don’t be caught off guard when the rates really drop.