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.
Scott blake headshot

Scott Blake

Loan Officer
Movement Mortgage
NMLS ID # 509629

Inflation Trends Towards Fed Target: Potential Rate Cuts Ahead

By: Movement Staff
June 14, 2024
This week, two key inflation indicators showed lower-than-anticipated increases, suggesting that inflation is trending towards the Federal Reserve's target. The Core Consumer Price Index (CPI) rose by 0.2% month-over-month (0.16% unrounded), which was below the expected 0.3%. Similarly, the Core Producer Price Index (PPI) remained flat month-over-month, against an expectation of a 0.3% increase. Bond yields responded by dropping, with the 10-year Treasury yield falling by 25 basis points.

During their scheduled meeting this week, the Federal Reserve left rates unchanged, indicating the possibility of one to two rate cuts later this year if inflation continues to improve. Upcoming inflation and employment reports will be crucial in determining future rate decisions.

Stay updated with our market insights as we monitor these developments and their potential impact on mortgage rates and the broader economy.
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.


Scott blake headshot
Scott Blake
Loan Officer
Wondering how much home you can afford? Let’s talk about your next move!
82 Running Hill Rd, Ste 302, South Portland, ME 04106
(opens in a new tab)
NMLS # 509629

State License #FL-LO117858, ME-509629, NH