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In today’s episode of the Mortgage Rundown, we explore the fluctuation of interest rates, discuss the importance of the jobs report, and review how this may impact the economy for the remainder of 2024. Watch the full episode now to learn more! https://lnkd.in/grmEDFWJ

Transcript

Hello, everyone. Welcome back to the Mortgage Rundown. Today we're in talk about what's happening with interest rates. 2024 is nearly halfway through. And we've seen a lot of interest rate volatility. We went from expecting 3 to 5 interest rate cuts by the fed to hoping that it's 1 or 2. Inflation has been a real challenge for the fed and it appears the economy is doing well. As inflation comes down slowly. Just to recap where we are today, the graph on your screen shows what inflation has done for the past 12 years. As you can see, it is gradually moving lower, and it will likely be more than a couple of months before it nears the Fed's target of 2%. With that being the case, we should only expect the fed to move once or twice before the end of the year, with most believing that the first move won't be until November turning over to interest rates. It's been a very bumpy ride for the past five years. If you look at the chart on your screen, you can see how much higher rates have move over the past couple of years than they dropped during Covid, in my opinion. Fed policy is very restrictive, but unfortunately with inflation it's very sticky and it's going to be a bit of a waiting game until we can see them budge. With all that being said, we do have to keep an eye on the jobs report on July 5th. With inflation data having somewhat leveled off, it's important to keep an eye on the broader economy in specifically the unemployment rate as we move ahead to the second half of 2024. That's it. Everyone from the capital markets test this week. Thank you all for watching and have a great day.

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In today’s episode of the Mortgage Rundown, we explore the fluctuation of interest rates, discuss the importance of the jobs report, and review how this may impact the economy for the remainder of 2024. Watch the full episode now to learn more! https://lnkd.in/grmEDFWJ

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In today’s episode of the Mortgage Rundown, we explore the fluctuation of interest rates, discuss the importance of the jobs report, and review how this may impact the economy for the remainder of 2024. Watch the full episode now to learn more! https://lnkd.in/grmEDFWJ

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New American Funding’s Post

Patience Required for the Second Half of 2024

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