In this weekly mortgage update, I report on economic indicators pointing to a weakening economy. The Consumer Price Index (CPI) and Producer Price Index (PPI) were below expectations, retail sales slowed, and jobless claims exceeded expectations. Yields on the 10-year treasury fell from 5% to 4.4% in two weeks. The Fed is expected to cut rates sooner than previously forecasted, with increasing odds of cuts in upcoming meetings. The prediction is for multiple rate cuts by December 2024. The report suggests employers are cutting back due to the economic slowdown. Predictions for mortgage rates indicate they may be in the mid-6% range by Spring 2024, falling further in the second half of the year and reaching the 5% range in 2025. Current 30-year fixed rates are around 7.322%, and Jumbo rates are slightly higher at 7.665%.