BLS released August consumer prices this morning. Headline CPI rose 0.4% month over month, seasonally adjusted, and 3.4% over the last twelve months. Core CPI, which leaves out food and energy, rose 0.3% for the month and 2.4% over the year.
Energy rose 2.1% month over month and 16.3% over the year. Gasoline rose 3.9% month over month, seasonally adjusted, and 27.4% over the year. Those are BLS stamps (USDL-26-1496), not a mortgage quote.
What that means for a file
This is the last major inflation print before the Fed’s September 15-16 meeting. It is not a reason to wait on a headline to rescue an offer that is already payment-tight.
Last night’s Rate Watch already stamped a hotter PPI week and higher public bond and Freddie averages. The call there stayed Payment Certainty First. Today’s CPI print does not flip that.
If your approval is tight, your cash to close is tight, or a seller credit only works at a specific rate-and-points setup, protect the payment. Do not float a closing deadline hoping next week’s Fed statement fixes the math.
One thing to do
Open the live calculator → https://www.bankpricer.com/mortgage-calculator/. Type your price, down payment, and a rate you already have on a quote, or use a public stamp from Rate Watch. Read principal and interest with taxes and insurance if you have them.
That number is the payment you have to live with. It is not approval and not a BankPricer quote. There is no BankPricer rate in this post.
If the payment only works if the Fed “saves” you next week, say that out loud. Then talk to Jeff before you float. He originates from Chicago with Barrett Financial Group, L.L.C. NMLS 1041652. Bring the payment you need and the date you have to close.
What this post is not
Not a Rate Watch overwrite. Not a prediction that the Fed will hike or cut. Not a BankPricer lock offer. Not a reason to upload anything to /leah/ today. That upload is still broken.
Protect the payment
Open the live calculator → https://www.bankpricer.com/mortgage-calculator/. Type your price, down payment, and a rate you already have on a quote, or use a public stamp from Rate Watch. Read principal and interest with taxes and insurance if you have them.
If the payment only works if the Fed “saves” you next week, talk to Jeff before you float. He originates from Chicago with Barrett Financial Group, L.L.C. NMLS 1041652. Bring the payment you need and the date you have to close.
Jeff Shin, NMLS 1041652. Barrett Financial Group, L.L.C. Chicago. Equal Housing Lender. Not a commitment to lend.