06/13/2026
Hi, this is Zachary Stout with your weekly market update.
Inflation remained elevated in May, with consumer prices rising 0.5% for the month and 4.2% from a year ago. Much of that increase was driven by higher gas and energy costs. Core inflation, which excludes food and energy, rose at a more moderate pace, suggesting broader price pressures remain relatively contained.
Wholesale prices also moved higher. The Producer Price Index increased 1.1% in May and 6.5% from a year ago, with energy costs accounting for much of the jump.
For the Federal Reserve, the balancing act continues. The Fed's dual mandate is to keep inflation under control while supporting a healthy job market. With inflation still above target, markets will be closely watching next week's meeting led by new Fed Chair Kevin Warsh for signals about the future direction of interest rates.
In housing, there was encouraging news. Existing home sales rose 3.2% in May to an annual pace of 4.17 million homes, the strongest level since December. Inventory also improved, climbing to 1.55 million homes.
On the labor front, new unemployment claims increased for the third straight week to roughly 229,000. Continuing unemployment claims remained elevated at 1.795 million, indicating many job seekers are taking longer to find work.
As always, if you're thinking about buying, refinancing, or simply have questions about today's market, I'm here to help.
🔑 Zachary Stout | NMLS ID #2180637 | Branch NMLS ID #2435463
🏡 Planet Home Lending, LLC | NMLS ID #17022
đź“ž (484) 747-1479
📧 [email protected]
đź“Ť 236 Brodhead Rd., Suite 140, Bethlehem, PA 18017
đź”— https://dot.cards/zstoutphl
