On today’s Hot Sheet, Byron Lazine covered the November PPI from the U.S. Bureau of Labor Statistics, which showed producer prices up 0.2% on the month and 3.0% year over year, alongside October new home sales running at a 737,000 annual pace, up 18.7% year over year, with inventory holding at a 7.9-month supply.
He also broke down new Realtor.com data showing more homeowners now carry mortgage rates above 6% than below 3%, signaling a turning point in the lock-in effect.
For a final fourth topic, Byron reviewed the MBA’s Weekly Mortgage Applications Survey, where total applications jumped 28.5% as falling rates and increased GSE bond buying drove a sharp rebound in both refinances and purchases.
