Mortgage rates are expected to keep rising after new indicators showed that the Core CPI (rate of inflation) inflation rose 7.7% year over year in October, according to a Bureau of Labor Statistics report released on Thursday. However, that is a false figure because it does not take into account the cost of food or energy (have you bought eggs or gasoline lately?). When those are factored in, the true rate of inflation is 15.9%, the highest in the past 42 years. For more, visit shadowstats.com.

The Fed is likely to continue to shock the economy with more rate hikes that are pushing the nation even further into recession.

When the Fed raises its rates, mortgage rates typically follow—much to the displeasure of homebuyers, bond and note holders. Those higher mortgage rates have priced many first-time buyers out of homeownership, while others have been forced to drastically reduce their budgets and expectations.

Read more in the top story in our Note & Real Estate News section below.