Skip to main content. Skip to contact links. Skip to navigation. If you wish for the loan officer to reach out to you, click to skip to their contact form. If you have questions for this loan officer, click to call them. If you need loan servicing, click to call our loan servicing department at 855-979-1084 Skip to footer navigation.
Kim Hankins

Kim Hankins

Senior Mortgage Loan Officer
Movement Mortgage
NMLS ID # 505398
19720 Jetton Rd, Stes 202 & 203, Cornelius, NC 28031
Dial Phone Number
p: (704) 589-4704
f: (704) 837-8980
Send E-mail to
e: kim.hankins@movement.com

Strong Payroll Data Shifts Market Outlook: What It Means for Rates

By: Movement Team
October 11, 2024
In recent weeks, the Federal Reserve has gained confidence that inflation is on track to hit its 2% target. However, attention has now shifted to the labor market as a key factor in determining future interest rate decisions. Last week’s surprising payroll report highlighted this shift, with nonfarm payroll growth surging to +254k—well above economists’ expectations of +150k. Additionally, the unemployment rate dipped to 4.1%, lower than the anticipated 4.2%.

This stronger-than-expected labor market data has caused bond yields to rise and shifted market expectations for future Federal Reserve rate cuts. Two weeks ago, markets were pricing in 70 basis points of rate cuts by the end of 2024 and 187 basis points by the end of 2025. However, with the labor market showing resilience, these expectations have now decreased to 44 basis points by the end of 2024 and 147 by the end of 2025.

Looking ahead, the next Federal Reserve meeting in early November will be crucial. While markets had initially anticipated a 50-basis-point rate cut, those expectations have now diminished. A 25-basis-point cut is seen as the more likely outcome.

The Fed’s balancing act between managing inflation and supporting labor market stability will continue to drive market movements, with each new piece of economic data adding complexity to the outlook.
Movement Mortgage "MM" red logo
Author: Movement Team

About Movement Mortgage, LLC (“Movement”)

Movement is not just a mortgage company – they’re an Impact Lender and force for positive change. With more than 4,000 teammates across all 50 states, they reinvest the majority of our profits back into the communities they serve. Movement is the 10th ranked top-producing residential mortgage company in the U.S., funding more than $20 billion in residential mortgages annually. The company has contributed nearly $400 million to the Movement Foundation since 2012, funding the Movement Schools network, affordable housing projects and global outreach efforts. For more information on Movement and Impact Lending, visit movement.com/impactreport .

RELATED

Kim Hankins
Kim Hankins
Senior Mortgage Loan Officer
Ready to learn more or get started? Complete the form and let’s connect.
19720 Jetton Rd, Stes 202 & 203, Cornelius, NC 28031
(opens in a new tab)
NMLS # 505398

State License #FL-LO24546, GA-43812, NC-I-159647, SC-BFI-MLO - 505398