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Scott Moraine

Scott Moraine

Sales Manager
Movement Mortgage
NMLS ID # 668045

Market Adjusts Expectations: Two Rate Cuts Expected This Year

By: Movement Team
April 12, 2024
The Federal Reserve has signaled a readiness to reduce interest rates, with the timing dependent on economic indicators. However, recent inflation data suggests that any rate cuts in May or June are unlikely, as inflation has surpassed expectations for the second consecutive month, with Consumer Price Index (CPI) rising by 0.4% month over month. This follows last week's robust employment figures. Consequently, bond yields have climbed, with 10-year yields increasing by 15 basis points this week. Market sentiment has adjusted accordingly, now anticipating two rate cuts this year, down from three, with the first expected in September.
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.

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Scott Moraine
Scott Moraine
Sales Manager
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NMLS # 668045

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