Great news for the future of Nashville mortgage rates: according to the Labor Department, consumer prices (CPI) only increased 7.1% in November, down from a 7.7% advance in October and a 40-year high of 9.1% in June, as rising food and rent costs again offset declining gas prices. Economists had expected yearly inflation to dial back to 7.3%.
On a monthly basis, consumer prices increased just 0.1% following a 0.4% rise the prior month, beating all expectations and surprising the marketplace.
This news has caused the 10 year treasury yield to slip yet again which indicates Nashville mortgage rates will continue to fall a 5th straight week. This news also virtually locks in a 50 bps Fed funds increase tomorrow which is great news for Nashville real estate buyers, sellers and Realtors.
Nashville is a vibrant city located in the heart of the American South. The city has long been a hub for culture and the arts, from its deep country music roots to its thriving visual and performing arts scene. While in Nashville, visitors can explore the city’s many attractions, such as the Country Music Hall of Fame, the Grand Ole Opry, and the Ryman Auditorium. Visitors can also enjoy the city’s diverse food and restaurant options, as well as its nightlife. With its warm, friendly people and its lively atmosphere, Nashville is a wonderful place to live.