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Toby Stanfield Headshot

Toby Stanfield

Loan Officer
Movement Mortgage
NMLS ID # 115244

Fed’s Rate Cut Boosts Inventory, but Market Remains Tight

By: Movement Staff
September 20, 2024
The market is continuing to respond to the Federal Reserve's 50-basis point rate cut on Wednesday. Current sentiment suggests the Fed may successfully guide the economy toward a soft landing, bolstered by the recent jobless claims that indicate a solid labor market.

In the housing market, inventory is rising due to the lower rates, yet the market remains tight, as evidenced by the persistent increase in median home prices. The Fed anticipates an additional 50 basis points cut by the end of the year, followed by a total of 100 basis points in cuts next year and another 50 basis points in 2026.
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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Toby Stanfield Headshot
Toby Stanfield
Loan Officer
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620 Green Valley Rd, Ste 208, Greensboro, NC 27408
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NMLS # 115244

State License #NC-I-159335, SC-MLO - 115244, VA-MLO-68169VA