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.
Lauri Skagen

Lauri Skagen

Senior Loan Officer
Movement Mortgage
NMLS ID # 165970

Inflation, Labor Market and Foreign Conflict Impacting Rates

By: Movement Team
October 13, 2023
Last Friday, we saw a Non-Farm Payrolls report that surpassed even the loftiest expectations. This caused a spike in yields as markets tried to assess the Fed’s next policy move. As the day went on, markets were able to recover as a slight increase in unemployment and declines in wage growth lent support to the notion that the current Fed policy is having the desired effect. Over the long weekend, the news flow was dominated by the distressing situation in Israel. These current events drove a flight to safety among investors, resulting in a dynamic fall in the 10-year yield during the first half of the week. During this time, we also heard a few Fed Governors suggest a pause in rate hikes at the upcoming November meeting, citing the wage growth and unemployment data mentioned earlier.

The highly anticipated CPI report was released on Thursday morning, showing slightly higher than expected Month-over-Month (MoM) and Year-over-Year (YoY) numbers. While the Core CPI (excluding Food and Energy) came in as expected, the MoM and YoY figures were sufficient to drive yields back up as markets attempt to digest the data's impact on future Fed policy. As the Fed analyzes the economic reports to guide its policy decisions, the many ongoing geopolitical situations do not make their job any easier. Expect the volatility to continue as the Fed endeavors to navigate this "soft landing."
Movement Mortgage "MM" red logo
Author: Movement Team

About Movement Mortgage
Movement Mortgage exists to love and value people by leading a Movement of Change in its industry, corporate culture, and communities. Funding approximately $30 billion in residential mortgages annually, Movement is the sixth-largest retail mortgage lender in the U.S. Movement is best known for its innovative mortgage process and referable experience, which begins with Upfront Underwriting and a seven-day loan processing goal. The company employs more than 4,000 people, has more than 650 branches in the U.S. and is licensed in 50 states. After funding its balance sheet and investing in future growth, Movement's profits are paid to its primary shareholder, the nonprofit Movement Foundation. To date, Movement Foundation has received more than $360 million of Movement profit to invest in schools, affordable housing, communities, and global outreach. For more information, visit www.movement.com.

RELATED

Lauri Skagen
Lauri Skagen
Senior Loan Officer
Wondering how much home you can afford? Let’s talk about your next move!
225 108th Ave NE, Ste 250, Bellevue, WA 98004
(opens in a new tab)
NMLS # 165970

State License #AZ-1046295, TX, WA-MLO-165970