The Consumer Price Index gain dropped 19% from last month, from a 4.9% YOY increase to a a 4.0% increase. This continual taper from the 9.05% increase in consumer costs 12 months ago is a welcome relief to my wallet, and should help the Fed to take a hiatus from another rate hike when the FOMC adjourns tomorrow afternoon.
Fannie Mae and Freddie Mac have both released the new AMI limits across the country. If you’re a first time homebuyer making less than $106,900 per year in Utah County (or $106,900 in SLC), you’re going to get a lower rate on your mortgage. And if you’re under $85,520 it gets even better!
