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Chad Hartsfield

Loan Officer
Movement Mortgage
NMLS ID # 396509

Inflation Persists, But Hope for Lower Rates Remains

By: Movement Staff
March 15, 2024
This week witnessed turbulence in bond yields, driven by unexpected rises in both consumer and producer inflation measures. While Core CPI (excluding food and energy) increased by 0.40% month over month and 3.8% year over year, slightly exceeding expectations, it's not the direction the Fed desires. Similarly, the Producer Price Index (PPI) also surpassed forecasts. The Federal Reserve, perceiving current rates as restrictive to economic growth, has hinted at a potential cut, but the timing is now uncertain due to the recent inflation upticks.

Market sentiment suggests rate cuts might commence around the June or July meetings, with an anticipated reduction of 75-100 basis points (0.75% - 1%) by year-end. The upcoming March FOMC meeting is poised to shed further light on this situation.
Author: Movement Staff

The Market Update is a weekly commentary compiled by a group of Movement Mortgage capital markets analysts with decades of combined expertise in the financial field. Movement's staff helps take complicated economic topics and turn them into a useful, easy to understand analysis to help you make the best decisions for your financial future.

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Chad Hartsfield
Loan Officer
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5500 W Pinnacle Pointe Dr suite 200, Rogers, AR 72758
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NMLS # 396509

State License #AR, CO-100034525, MO-396509, OK-MLO32737