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Last week, mortgage rates remained relatively unchanged after fluctuating higher and lower. Mortgage application submissions increased. The consumer price index for April was mostly in line with inflation expectations. Continuing jobless claims and initial jobless claims both increased.



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  • Mortgage application submissions increased a composite 6.3% during the week ending 5/5. The Refinance Index increased 10% while the Purchase Index increased 5%.
  • The consumer price index (CPI) for April increased 0.4% month-over-month and 4.9% year-over-year, which was mostly as expected. The core CPI increased 0.4% and 5.5% month-over-month and year-over-year.
  • Continuing jobless claims increased by 12,000 during the week ending 4/29, bringing the total number of continuing claims to 1,813,000. Initial jobless claims increased by roughly 20,000 during the week ending 5/6, bringing the total number of initial claims to 264,000.

  This week's highlighted reports:
Existing home sales

WEEK OF MAY 15, 2023

Information (weekly review) (Market Movement) was provided by Mark Hedman

Sales Manager, Mortgage Loan Originator | CMG Home Loans 

Related Links:

Western Washington Housing Market Moving In a Postive Direction

Market Report - Real Estate Weekly Report

The Housing Market Locked Downed (Are Last Year’s Low Rates the Reason?)

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