Today, the spice is oil, and the control lies in the potential and current disruption of critical global shipping channels.

Oil is not just another commodity, it is the lifeblood of global trade, manufacturing, and transportation.

Any instability in the movement of oil through major shipping corridors can quickly drive up energy prices, which in turn raises costs across nearly every sector of the economy. As a result, markets react swiftly, with investors closely watching these developments because the impact reaches far beyond energy, it influences inflation, global trade, financial markets, and ultimately interest rates.

Mortgage rates are higher this morning, as expected, though certainly not welcomed. Until the current unrest and supply disruptions begin to ease, markets will likely remain volatile. Once stability returns and those pressures subside, we should see rates gradually move lower again.

Consumer Price Index cam in as excepted at 2.4% year over year. Shelter rose 0.2% the lowest level in 5 years. Good news for inflation.

Hang in there, rates will come down as will gas prices eventually.

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