Mortgage rates ended last week on an optimistic note, as markets were encouraged by news of peace talks between Washington and Tehran.
The conversation this week is much more dour. On Wednesday, the Senate blocked efforts to end the war, the seventh such measure put forth by Democrats. Tuesday saw the release of the April consumer price index (CPI), which showed that inflation accelerated at its fastest pace since May 2023. This spike was driven largely by increased energy costs as a result of the conflict in Iran.
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