“Inflation is really getting out of hand… But that’s just my 5 cents.” Inflation impacts the prices of fixed-income securities, like the kind backed by mortgages. Inflation takes a while to move, but this week President Donald Trump this week admitted that prices are rising but insisted that it’s not his fault despite repeatedly claiming he would bring prices down on his first day in office. “Inflation is back,” he told Fox News host Sean Hannity in an interview. “I’m only here for two and a half weeks … I had nothing to do with it.” Regardless of promises, no one can control a drought in the Ivory Coast impacting cacao prices. Or flooding in Kentucky possibly impacting soybean or tobacco prices. Yes, U.S. inflation expectations have increased, with the two-year breakeven rate surpassing 3 percent for the first time in two years, driven by a rise in energy and core goods prices. The consumer price index for January showed headline inflation at 3 percent and core inflation at 3.3 percent, causing significant shifts in bond markets, although US equities remained relatively stable. (Today’s podcast can be found here and this week’s is sponsored by nCino. nCino Mortgage Suite’s three core products, nCino Mortgage, nCino Incentive Compensation, and nCino Mortgage Analytics, unite the people, systems, and stages of the mortgage process. Today’s has an interview with nCino’s Sean Desmond on how lenders can utilize data and technology to drive efficiencies in the origination process.)