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John Owen profile image

John Owen

Team Lead Loan Officer
Movement Mortgage
NMLS ID # 648836
2950 Halycon Ln, Ste 102, Jacksonville, FL 32223
Dial Phone Number
p: (904) 535-6538
f: (904) 779-3038
Send E-mail to
e: john.owen@movement.com

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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John Owen
Team Lead Loan Officer
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2950 Halycon Ln, Ste 102, Jacksonville, FL 32223
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NMLS # 648836

State License #FL-LO25424