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James McKibban

James McKibban

Loan Officer
Movement Mortgage
NMLS ID # 491647

All Eyes on the Fed as Inflation Drops and Unemployment Rises

By: Movement Staff
July 26, 2024
Bond yields traded in a tight range this week, as recent economic data continues to support the Federal Reserve beginning its easing cycle in September. While the economy remains on solid footing, there are signs of a slowing labor market. The unemployment rate has increased from 3.7% to 4.1% over the last six months. Additionally, Core PCE (the Fed’s preferred inflation measurement) continues to show progress toward the 2% target. A slowing labor market and improving inflation metrics could increase the likelihood of rate cuts.

Next week will be particularly important with the July FOMC (Federal Open Market Committee) rate meeting and the release of the July payrolls report. These events will provide further insights into the economic outlook and potential rate changes, offering more clarity on what to expect for the housing market in the coming months.
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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James McKibban
James McKibban
Loan Officer
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17877 Von Karman Ave, Ste 230, Irvine, CA 92614
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NMLS # 491647

State License #AK-AK491647, AL-83650, AR-129588, AZ-1013507, CA-DFPI CA-DBO491647-CA DFPI under the California Residential Mortgage Lending Act, CO-100530150, CT-LO-491647, DC-MLO491647, DE-MLO-491647, FL-LO104680, GA-491647, HI-491647, IA-49361, ID-MLO-2080491647, IL-031.0073833, KS-LO.0050411, KY-MC800676, LA, MA-MLO491647, MD-491647, ME, MI-491647, MN-MLO-491647, MO-491647, MS-491647, MT-491647, NC-I-218389, ND-NDMLO491647, NH, NJ -licensed by the N.J. Department of Banking and Insurance, NM, NE, NV-61912, NY Licensed Mortgage Banker-NYS Department of Financial Services, OH-MLO-OH.491647, OK-MLO30583, PA-101428, OR, RI, SC-MLO - 491647, SD-491647.MLO, TN-491647, TX-SML, UT-DRE-13289236, VA-MLO-59744VA, VT-MLO-491647, WA-MLO-491647, WI-491647, WV-LO-491647, WY-105777