Economy Playing Hide-and-Seek! (November 11th – 15th) 🙈
Hey everyone, hope you had a chance to thank a veteran and enjoy some delicious doughnuts last week! Now, let’s dive into the latest economic maze and see what surprises it has in store for us.
The Week That Was (November 11th – 15th):
- Inflation Peek-a-Boo: We got two glimpses of inflation this week with the PPI (Producer Price Index) and CPI (Consumer Price Index) reports. The PPI showed that inflation at the wholesale level (what businesses pay) cooled down a bit, which is good news! But the CPI, which measures inflation for consumers, was a bit stickier. It seems like those price increases are playing hide-and-seek with us – they’re not gone, but they’re not as obvious as they were before.
What does this mean for YOU?
This mixed inflation picture means that mortgage rates are likely to stay somewhat stable for now. The Fed is probably still analyzing the data and trying to figure out its next move. It’s like they’re playing a game of chess with the economy – carefully considering each move before making a decision.
Looking Ahead (November 18th – 22nd):
This week is a bit lighter on the economic data front, but we do have a few things to keep an eye on:
- Housing Market Check-In: We’ll get a look at existing home sales, which will give us a sense of how the housing market is holding up in the face of higher mortgage rates.
- Manufacturing Update: The Markit Manufacturing PMI will give us some insights into the health of the manufacturing sector.
The Bottom Line:
The economy is still keeping us guessing! But don’t worry, I’ll be here to keep you informed and help you navigate the mortgage world. And as always, if you have any questions or are ready to start your homeownership journey, don’t hesitate to reach out!
Also, Don’t forget the November 18th is Mickey Mouse’s Birthday
Believe it or not, Mickey Mouse is turning 96 this year! This iconic character has been entertaining generations since his debut in “Steamboat Willie” on November 18th, 1928.
Here are a few fun facts to celebrate the mouse who started it all:
- Original Name: Mickey was almost named “Mortimer Mouse”! Thankfully, Walt Disney’s wife, Lillian, convinced him to change it.
- Hidden Mickeys: Disney Imagineers love to hide Mickey Mouse silhouettes throughout Disney theme parks and resorts. It’s a fun scavenger hunt for visitors!
- Global Icon: Mickey is recognized worldwide and speaks multiple languages. He’s a true ambassador of happiness!
- Hollywood Star: Mickey Mouse has his own star on the Hollywood Walk of Fame. He’s a true celebrity!
So, raise a glass (of milk, of course!) to Mickey Mouse on his birthday! He’s a reminder that a little bit of magic and imagination can go a long way.
-tom