{"id":594945,"date":"2024-02-07T19:54:31","date_gmt":"2024-02-07T19:54:31","guid":{"rendered":"https:\/\/drewdodds.vipmtginc.com\/blog\/?p=594945"},"modified":"2025-09-08T19:39:52","modified_gmt":"2025-09-08T19:39:52","slug":"fed-rates-jan-2024","status":"publish","type":"post","link":"https:\/\/drewdodds.vipmtginc.com\/blog\/2024\/02\/07\/fed-rates-jan-2024\/","title":{"rendered":"Newsletter &#8211; 2\/5\/2024"},"content":{"rendered":"<p><strong>Week of January 29, 2024 in Review<\/strong><\/p>\n<p>The Fed held rates steady, while there were mixed messages from the labor sector and home prices continued to hit new highs. Read on for these stories and more:<\/p>\n<ul>\n<li>Fed Funds Rate \u201cLikely at Its Peak\u201d<\/li>\n<li>Was January\u2019s Jobs Report Really a Blockbuster?<\/li>\n<li>Slow Start for Private Sector Job Growth<\/li>\n<li>Surprising Uptick in December\u2019s Job Openings<\/li>\n<li>Unemployment Claims Rise for Second Straight Week<\/li>\n<li>Home Prices Moving on Up<\/li>\n<\/ul>\n<p><strong>Fed Funds Rate \u201cLikely at Its Peak\u201d<\/strong><\/p>\n<p>After a period of aggressive rate hikes that began in March 2022, the Fed once again left their benchmark Federal Funds Rate unchanged at a range of 5.25% to 5.5%. This decision was unanimous and marked the fourth straight meeting where the Fed paused additional hikes.<\/p>\n<p>The Fed Funds Rate is the interest rate for overnight borrowing for banks and it is not the same as mortgage rates. The Fed\u2019s eleven hikes between March 2022 and July 2023 were made to slow the economy and curb the runaway inflation seen over the last few years.<\/p>\n<p><strong>What\u2019s the bottom line?<\/strong> The Fed said they believe they have reached their peak Fed Funds Rate for this cycle. However, members don\u2019t expect to begin cutting rates until they have \u201cgained greater confidence that inflation is moving sustainably toward 2 percent.\u201d Note that the Fed\u2019s favored measure, Core Personal Consumption Expenditures, declined to 2.9% annually as of the latest report for December.<\/p>\n<p>During his press conference, Fed Chair Jerome Powell acknowledged that inflation data has been favorable over the last six months. However, he does not think the Fed will be ready to start cutting rates at their next meeting on March 20, explaining that members<br \/>\nwant to see \u201cmore good data.\u201d<\/p>\n<p><strong>Was January\u2019s Jobs Report Really a Blockbuster? <\/strong><\/p>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"alignnone size-full wp-image-594946\" src=\"https:\/\/drewdodds.vipmtginc.com\/blog\/wp-content\/uploads\/2024\/02\/bls-job-report-jan-2024.png\" alt=\"bls job report jan 24\" width=\"814\" height=\"543\" srcset=\"https:\/\/drewdodds.vipmtginc.com\/blog\/wp-content\/uploads\/2024\/02\/bls-job-report-jan-2024.png 814w, https:\/\/drewdodds.vipmtginc.com\/blog\/wp-content\/uploads\/2024\/02\/bls-job-report-jan-2024-300x200.png 300w, https:\/\/drewdodds.vipmtginc.com\/blog\/wp-content\/uploads\/2024\/02\/bls-job-report-jan-2024-768x512.png 768w, https:\/\/drewdodds.vipmtginc.com\/blog\/wp-content\/uploads\/2024\/02\/bls-job-report-jan-2024-200x133.png 200w, https:\/\/drewdodds.vipmtginc.com\/blog\/wp-content\/uploads\/2024\/02\/bls-job-report-jan-2024-400x267.png 400w, https:\/\/drewdodds.vipmtginc.com\/blog\/wp-content\/uploads\/2024\/02\/bls-job-report-jan-2024-600x400.png 600w, https:\/\/drewdodds.vipmtginc.com\/blog\/wp-content\/uploads\/2024\/02\/bls-job-report-jan-2024-800x534.png 800w\" sizes=\"(max-width: 814px) 100vw, 814px\" \/><\/p>\n<p>The Bureau of Labor Statistics (BLS) reported that there were 353,000 jobs created in January, which was nearly double expectations. Revisions to November and December also added 126,000 jobs in those months combined. The unemployment rate held steady at 3.7%.<\/p>\n<p><strong>What\u2019s the bottom line?<\/strong> While the headline job growth figure for January appears strong on the surface, future revisions lower are a very real possibility. January is always a heavily adjusted month, as new benchmarks, seasonal adjustments and population controls play a big role in calculating the data.<\/p>\n<p>In addition, there are two reports within the Jobs Report and there is a fundamental difference between them. The Business Survey is where the headline job number comes from, and it&#8217;s based predominately on modeling and estimations.<\/p>\n<p>The Household Survey, where the Unemployment Rate comes from, is considered more real-time because it\u2019s derived by calling households to see if they are employed. This survey has its own job creation component and it told a completely different story, showing 31,000 job losses.<\/p>\n<p>Average weekly hours worked also declined to the lowest level since 2010 excluding the pandemic. This is important because one of the ways businesses cut costs is to cut the number of hours worked. On average the entire labor force is working 30 minutes fewer per week, which equates to 2.4 million job losses on its own.<\/p>\n<p><strong>Slow Start for Private Sector Job Growth <\/strong><\/p>\n<p><img decoding=\"async\" class=\"alignnone size-full wp-image-594947\" src=\"https:\/\/drewdodds.vipmtginc.com\/blog\/wp-content\/uploads\/2024\/02\/adp-employement-report-jan-2024.png\" alt=\"adp employment report jan 2024\" width=\"819\" height=\"553\" srcset=\"https:\/\/drewdodds.vipmtginc.com\/blog\/wp-content\/uploads\/2024\/02\/adp-employement-report-jan-2024.png 819w, https:\/\/drewdodds.vipmtginc.com\/blog\/wp-content\/uploads\/2024\/02\/adp-employement-report-jan-2024-300x203.png 300w, https:\/\/drewdodds.vipmtginc.com\/blog\/wp-content\/uploads\/2024\/02\/adp-employement-report-jan-2024-768x519.png 768w, https:\/\/drewdodds.vipmtginc.com\/blog\/wp-content\/uploads\/2024\/02\/adp-employement-report-jan-2024-200x135.png 200w, https:\/\/drewdodds.vipmtginc.com\/blog\/wp-content\/uploads\/2024\/02\/adp-employement-report-jan-2024-400x270.png 400w, https:\/\/drewdodds.vipmtginc.com\/blog\/wp-content\/uploads\/2024\/02\/adp-employement-report-jan-2024-600x405.png 600w, https:\/\/drewdodds.vipmtginc.com\/blog\/wp-content\/uploads\/2024\/02\/adp-employement-report-jan-2024-800x540.png 800w\" sizes=\"(max-width: 819px) 100vw, 819px\" \/><\/p>\n<p>ADP\u2019s Employment Report showed that private payrolls began 2024 slower than expected, as employers added just 107,000 new jobs in January. Most of the growth came in service-providing industries (+77K), with goods-producers adding the rest.<\/p>\n<p>Annual pay for job stayers increased by 5.2% while job changers saw an average increase of 7.2%, though these figures have cooled considerably from recent highs. In addition, the difference between pay growth for job stayers versus job changers has also shrunk substantially, indicating there\u2019s less incentive for switching jobs.<\/p>\n<p><strong>What\u2019s the bottom line?<\/strong> Nela Richardson, chief economist for ADP, said, \u201cProgress on inflation has brightened the economic picture despite a slowdown in hiring and pay.\u201d She also noted that \u201cwages adjusted for inflation have improved over the past six months, and the economy looks like it&#8217;s headed toward a soft landing in the U.S. and globally.\u201d<\/p>\n<p><strong>Surprising Uptick in December\u2019s Job Openings<\/strong><\/p>\n<p>The latest Job Openings and Labor Turnover Survey (JOLTS) showed that job openings were stronger than expected in December, rising from 8.925 million in November to 9.026 million. The hiring rate rose from 3.5% to 3.6% while the quit rate remained at 2.2%, suggesting there\u2019s a lack of employers trying to entice workers with other offers.<\/p>\n<p><strong>What\u2019s the bottom line?<\/strong> While the Fed watches this report to monitor slack in the labor market, there are flaws in the data. The increase in working from home means job listings are being posted in multiple states more frequently. As a result, they\u2019re being overcounted in the JOLTS total so the report may be weaker than the headlines suggest, especially given the number of high-profile companies that have announced layoffs recently.<\/p>\n<p><strong>Unemployment Claims Rise for Second Straight Week<\/strong><\/p>\n<p>The latest weekly Initial Jobless Claims reached their highest level since November, as 224,000 people filed for unemployment benefits for the first time. Continuing Claims also surged higher, up 70,000 with 1.898 million people still receiving benefits after filing their initial claim.<\/p>\n<p><strong>What\u2019s the bottom line?<\/strong> Both Initial and Continuing Jobless Claims have risen over the last two weeks to nearly three-month highs. Plus, the latest Job Cuts report from Challenger, Gray &amp; Christmas showed that announced layoffs in January surged from December, and this could be reflected in future Unemployment Claim filings.<\/p>\n<p><strong>Home Prices Moving on Up<\/strong><\/p>\n<p><img decoding=\"async\" class=\"alignnone size-full wp-image-594948\" src=\"https:\/\/drewdodds.vipmtginc.com\/blog\/wp-content\/uploads\/2024\/02\/home-price-index-nov-2023.png\" alt=\"home price index nov 2023\" width=\"808\" height=\"542\" srcset=\"https:\/\/drewdodds.vipmtginc.com\/blog\/wp-content\/uploads\/2024\/02\/home-price-index-nov-2023.png 808w, https:\/\/drewdodds.vipmtginc.com\/blog\/wp-content\/uploads\/2024\/02\/home-price-index-nov-2023-300x201.png 300w, https:\/\/drewdodds.vipmtginc.com\/blog\/wp-content\/uploads\/2024\/02\/home-price-index-nov-2023-768x515.png 768w, https:\/\/drewdodds.vipmtginc.com\/blog\/wp-content\/uploads\/2024\/02\/home-price-index-nov-2023-200x134.png 200w, https:\/\/drewdodds.vipmtginc.com\/blog\/wp-content\/uploads\/2024\/02\/home-price-index-nov-2023-400x268.png 400w, https:\/\/drewdodds.vipmtginc.com\/blog\/wp-content\/uploads\/2024\/02\/home-price-index-nov-2023-600x402.png 600w, https:\/\/drewdodds.vipmtginc.com\/blog\/wp-content\/uploads\/2024\/02\/home-price-index-nov-2023-800x537.png 800w\" sizes=\"(max-width: 808px) 100vw, 808px\" \/><\/p>\n<p>The Case-Shiller Home Price Index, which is considered the \u201cgold standard\u201d for appreciation, showed home prices nationwide rose 0.2% from October to November after seasonal adjustment. This marked the tenth straight month of gains and a new record high. Home values in November were also 5.1% higher than a year earlier, with S&amp;P DJI\u2019s Head of Commodities, Brian D. Luke, noting that \u201cNovember\u2019s year-over-year gain saw the largest growth in U.S. home prices in 2023.\u201d<\/p>\n<p>The Federal Housing Finance Agency\u2019s (FHFA) House Price Index also saw home prices rise 0.3% from October to November and 6.6% year-over-year, with their index setting new record highs in home prices every month since February. Note that FHFA\u2019s report measures home price appreciation on single-family homes with conforming loan amounts, which means it most likely represents lower-priced homes.<br \/>\nFHFA also does not include cash buyers or jumbo loans, and these factors account for some of the differences in the two reports.<\/p>\n<p><strong>What\u2019s the bottom line? <\/strong>Home prices are on pace to rise between 6-7% in 2023, based on the reported pace of appreciation through November. These indexes show that homeownership continues to provide opportunities for building wealth through real estate.<\/p>\n<p><strong>Family Hack of the Week<\/strong><\/p>\n<p>These crowd-pleasing Baked Chicken Wings from All recipes are easy to make and perfect for game day or any favorite celebration!<br \/>\nPreheat oven to 375 degrees Fahrenheit. In a large resealable bag, combine 3 tablespoons olive oil, 3 cloves pressed garlic, 2 teaspoons chili powder, 1 teaspoon garlic powder, and salt and pepper to taste. Add 10 to 12 chicken wings to the bag, reseal and shake to coat. Arrange chicken wings in a single layer on a baking sheet. Cook until wings are crisp, about 30 to 45 minutes. Enjoy wings with classics like Ranch dressing, carrots and celery sticks!<\/p>\n<p><strong>What to Look for This Week<\/strong><\/p>\n<p>This week\u2019s economic calendar is much quieter than last week\u2019s but there are a few key items to note. The latest Jobless Claims will be delivered on Thursday while investors will also be closely watching Wednesday\u2019s 10-year Note and Thursday\u2019s 30-year Bond auctions for the level of demand.<\/p>\n<p><strong>Technical Picture<\/strong><\/p>\n<p>Mortgage Bonds broke beneath their 25-day Moving Average on Friday and ended last week testing the next floor of support at their 50-day Moving Average. The 10-year ended last week just beneath resistance at the 25-day Moving Average. If this ceiling does not hold, there are three resistance levels close by.<\/p>\n<p><a href=\"https:\/\/drewdodds.vipmtginc.com\/blog\/\">If you have any questions please contact me today.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Week of January 29, 2024 in Review The Fed held rates steady, while there were mixed messages from the labor sector and home prices continued to hit new highs. Read on for these stories and more: Fed Funds Rate \u201cLikely at Its Peak\u201d Was January\u2019s Jobs Report Really a Blockbuster? Slow Start for Private Sector [&hellip;]<\/p>\n","protected":false},"author":26,"featured_media":594948,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-594945","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-newsletter"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Newsletter - 2\/5\/2024 - Drew Dodds<\/title>\n<meta name=\"description\" content=\"The Fed held rates steady, while there were mixed messages from the labor sector and home prices continued to hit new highs.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/drewdodds.vipmtginc.com\/blog\/2024\/02\/07\/fed-rates-jan-2024\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Newsletter - 2\/5\/2024 - Drew Dodds\" \/>\n<meta property=\"og:description\" content=\"The Fed held rates steady, while there were mixed messages from the labor sector and home prices continued to hit new highs.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/drewdodds.vipmtginc.com\/blog\/2024\/02\/07\/fed-rates-jan-2024\/\" \/>\n<meta property=\"og:site_name\" content=\"Drew Dodds\" \/>\n<meta property=\"article:published_time\" content=\"2024-02-07T19:54:31+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-09-08T19:39:52+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/drewdodds.vipmtginc.com\/blog\/wp-content\/uploads\/2024\/02\/home-price-index-nov-2023.png\" \/>\n\t<meta property=\"og:image:width\" content=\"808\" \/>\n\t<meta property=\"og:image:height\" content=\"542\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Drew Dodds\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Drew Dodds\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"7 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/drewdodds.vipmtginc.com\\\/blog\\\/2024\\\/02\\\/07\\\/fed-rates-jan-2024\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/drewdodds.vipmtginc.com\\\/blog\\\/2024\\\/02\\\/07\\\/fed-rates-jan-2024\\\/\"},\"author\":{\"name\":\"Drew Dodds\",\"@id\":\"https:\\\/\\\/drewdodds.vipmtginc.com\\\/blog\\\/#\\\/schema\\\/person\\\/a9b55d000ca877f53f3b7b733fb26b9b\"},\"headline\":\"Newsletter &#8211; 2\\\/5\\\/2024\",\"datePublished\":\"2024-02-07T19:54:31+00:00\",\"dateModified\":\"2025-09-08T19:39:52+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/drewdodds.vipmtginc.com\\\/blog\\\/2024\\\/02\\\/07\\\/fed-rates-jan-2024\\\/\"},\"wordCount\":1319,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/drewdodds.vipmtginc.com\\\/blog\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/drewdodds.vipmtginc.com\\\/blog\\\/2024\\\/02\\\/07\\\/fed-rates-jan-2024\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/drewdodds.vipmtginc.com\\\/blog\\\/wp-content\\\/uploads\\\/2024\\\/02\\\/home-price-index-nov-2023.png\",\"articleSection\":[\"Newsletter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/drewdodds.vipmtginc.com\\\/blog\\\/2024\\\/02\\\/07\\\/fed-rates-jan-2024\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/drewdodds.vipmtginc.com\\\/blog\\\/2024\\\/02\\\/07\\\/fed-rates-jan-2024\\\/\",\"url\":\"https:\\\/\\\/drewdodds.vipmtginc.com\\\/blog\\\/2024\\\/02\\\/07\\\/fed-rates-jan-2024\\\/\",\"name\":\"Newsletter - 2\\\/5\\\/2024 - Drew Dodds\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/drewdodds.vipmtginc.com\\\/blog\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/drewdodds.vipmtginc.com\\\/blog\\\/2024\\\/02\\\/07\\\/fed-rates-jan-2024\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/drewdodds.vipmtginc.com\\\/blog\\\/2024\\\/02\\\/07\\\/fed-rates-jan-2024\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/drewdodds.vipmtginc.com\\\/blog\\\/wp-content\\\/uploads\\\/2024\\\/02\\\/home-price-index-nov-2023.png\",\"datePublished\":\"2024-02-07T19:54:31+00:00\",\"dateModified\":\"2025-09-08T19:39:52+00:00\",\"description\":\"The Fed held rates steady, while there were mixed messages from the labor sector and home prices continued to hit new highs.\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/drewdodds.vipmtginc.com\\\/blog\\\/2024\\\/02\\\/07\\\/fed-rates-jan-2024\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/drewdodds.vipmtginc.com\\\/blog\\\/2024\\\/02\\\/07\\\/fed-rates-jan-2024\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/drewdodds.vipmtginc.com\\\/blog\\\/2024\\\/02\\\/07\\\/fed-rates-jan-2024\\\/#primaryimage\",\"url\":\"https:\\\/\\\/drewdodds.vipmtginc.com\\\/blog\\\/wp-content\\\/uploads\\\/2024\\\/02\\\/home-price-index-nov-2023.png\",\"contentUrl\":\"https:\\\/\\\/drewdodds.vipmtginc.com\\\/blog\\\/wp-content\\\/uploads\\\/2024\\\/02\\\/home-price-index-nov-2023.png\",\"width\":808,\"height\":542,\"caption\":\"home price index nov 2023\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/drewdodds.vipmtginc.com\\\/blog\\\/2024\\\/02\\\/07\\\/fed-rates-jan-2024\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/drewdodds.vipmtginc.com\\\/blog\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Newsletter &#8211; 2\\\/5\\\/2024\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/drewdodds.vipmtginc.com\\\/blog\\\/#website\",\"url\":\"https:\\\/\\\/drewdodds.vipmtginc.com\\\/blog\\\/\",\"name\":\"Drew Dodds\",\"description\":\"V.I.P. Mortgage, Inc.\",\"publisher\":{\"@id\":\"https:\\\/\\\/drewdodds.vipmtginc.com\\\/blog\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/drewdodds.vipmtginc.com\\\/blog\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/drewdodds.vipmtginc.com\\\/blog\\\/#organization\",\"name\":\"Drew Dodds\",\"url\":\"https:\\\/\\\/drewdodds.vipmtginc.com\\\/blog\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/drewdodds.vipmtginc.com\\\/blog\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/drewdodds.vipmtginc.com\\\/blog\\\/wp-content\\\/uploads\\\/2022\\\/02\\\/VIP-white-logo-proof.png\",\"contentUrl\":\"https:\\\/\\\/drewdodds.vipmtginc.com\\\/blog\\\/wp-content\\\/uploads\\\/2022\\\/02\\\/VIP-white-logo-proof.png\",\"width\":99,\"height\":64,\"caption\":\"Drew Dodds\"},\"image\":{\"@id\":\"https:\\\/\\\/drewdodds.vipmtginc.com\\\/blog\\\/#\\\/schema\\\/logo\\\/image\\\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/drewdodds.vipmtginc.com\\\/blog\\\/#\\\/schema\\\/person\\\/a9b55d000ca877f53f3b7b733fb26b9b\",\"name\":\"Drew Dodds\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/50115a8e87f789bfdaaf8ea95afd5571fb05c1ae4a529b7e221c9d8ac9b4c250?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/50115a8e87f789bfdaaf8ea95afd5571fb05c1ae4a529b7e221c9d8ac9b4c250?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/50115a8e87f789bfdaaf8ea95afd5571fb05c1ae4a529b7e221c9d8ac9b4c250?s=96&d=mm&r=g\",\"caption\":\"Drew Dodds\"},\"url\":\"https:\\\/\\\/drewdodds.vipmtginc.com\\\/blog\\\/author\\\/drewd\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Newsletter - 2\/5\/2024 - Drew Dodds","description":"The Fed held rates steady, while there were mixed messages from the labor sector and home prices continued to hit new highs.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/drewdodds.vipmtginc.com\/blog\/2024\/02\/07\/fed-rates-jan-2024\/","og_locale":"en_US","og_type":"article","og_title":"Newsletter - 2\/5\/2024 - Drew Dodds","og_description":"The Fed held rates steady, while there were mixed messages from the labor sector and home prices continued to hit new highs.","og_url":"https:\/\/drewdodds.vipmtginc.com\/blog\/2024\/02\/07\/fed-rates-jan-2024\/","og_site_name":"Drew Dodds","article_published_time":"2024-02-07T19:54:31+00:00","article_modified_time":"2025-09-08T19:39:52+00:00","og_image":[{"width":808,"height":542,"url":"https:\/\/drewdodds.vipmtginc.com\/blog\/wp-content\/uploads\/2024\/02\/home-price-index-nov-2023.png","type":"image\/png"}],"author":"Drew Dodds","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Drew Dodds","Est. reading time":"7 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/drewdodds.vipmtginc.com\/blog\/2024\/02\/07\/fed-rates-jan-2024\/#article","isPartOf":{"@id":"https:\/\/drewdodds.vipmtginc.com\/blog\/2024\/02\/07\/fed-rates-jan-2024\/"},"author":{"name":"Drew Dodds","@id":"https:\/\/drewdodds.vipmtginc.com\/blog\/#\/schema\/person\/a9b55d000ca877f53f3b7b733fb26b9b"},"headline":"Newsletter &#8211; 2\/5\/2024","datePublished":"2024-02-07T19:54:31+00:00","dateModified":"2025-09-08T19:39:52+00:00","mainEntityOfPage":{"@id":"https:\/\/drewdodds.vipmtginc.com\/blog\/2024\/02\/07\/fed-rates-jan-2024\/"},"wordCount":1319,"commentCount":0,"publisher":{"@id":"https:\/\/drewdodds.vipmtginc.com\/blog\/#organization"},"image":{"@id":"https:\/\/drewdodds.vipmtginc.com\/blog\/2024\/02\/07\/fed-rates-jan-2024\/#primaryimage"},"thumbnailUrl":"https:\/\/drewdodds.vipmtginc.com\/blog\/wp-content\/uploads\/2024\/02\/home-price-index-nov-2023.png","articleSection":["Newsletter"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/drewdodds.vipmtginc.com\/blog\/2024\/02\/07\/fed-rates-jan-2024\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/drewdodds.vipmtginc.com\/blog\/2024\/02\/07\/fed-rates-jan-2024\/","url":"https:\/\/drewdodds.vipmtginc.com\/blog\/2024\/02\/07\/fed-rates-jan-2024\/","name":"Newsletter - 2\/5\/2024 - Drew Dodds","isPartOf":{"@id":"https:\/\/drewdodds.vipmtginc.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/drewdodds.vipmtginc.com\/blog\/2024\/02\/07\/fed-rates-jan-2024\/#primaryimage"},"image":{"@id":"https:\/\/drewdodds.vipmtginc.com\/blog\/2024\/02\/07\/fed-rates-jan-2024\/#primaryimage"},"thumbnailUrl":"https:\/\/drewdodds.vipmtginc.com\/blog\/wp-content\/uploads\/2024\/02\/home-price-index-nov-2023.png","datePublished":"2024-02-07T19:54:31+00:00","dateModified":"2025-09-08T19:39:52+00:00","description":"The Fed held rates steady, while there were mixed messages from the labor sector and home prices continued to hit new highs.","breadcrumb":{"@id":"https:\/\/drewdodds.vipmtginc.com\/blog\/2024\/02\/07\/fed-rates-jan-2024\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/drewdodds.vipmtginc.com\/blog\/2024\/02\/07\/fed-rates-jan-2024\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/drewdodds.vipmtginc.com\/blog\/2024\/02\/07\/fed-rates-jan-2024\/#primaryimage","url":"https:\/\/drewdodds.vipmtginc.com\/blog\/wp-content\/uploads\/2024\/02\/home-price-index-nov-2023.png","contentUrl":"https:\/\/drewdodds.vipmtginc.com\/blog\/wp-content\/uploads\/2024\/02\/home-price-index-nov-2023.png","width":808,"height":542,"caption":"home price index nov 2023"},{"@type":"BreadcrumbList","@id":"https:\/\/drewdodds.vipmtginc.com\/blog\/2024\/02\/07\/fed-rates-jan-2024\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/drewdodds.vipmtginc.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Newsletter &#8211; 2\/5\/2024"}]},{"@type":"WebSite","@id":"https:\/\/drewdodds.vipmtginc.com\/blog\/#website","url":"https:\/\/drewdodds.vipmtginc.com\/blog\/","name":"Drew Dodds","description":"V.I.P. Mortgage, Inc.","publisher":{"@id":"https:\/\/drewdodds.vipmtginc.com\/blog\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/drewdodds.vipmtginc.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/drewdodds.vipmtginc.com\/blog\/#organization","name":"Drew Dodds","url":"https:\/\/drewdodds.vipmtginc.com\/blog\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/drewdodds.vipmtginc.com\/blog\/#\/schema\/logo\/image\/","url":"https:\/\/drewdodds.vipmtginc.com\/blog\/wp-content\/uploads\/2022\/02\/VIP-white-logo-proof.png","contentUrl":"https:\/\/drewdodds.vipmtginc.com\/blog\/wp-content\/uploads\/2022\/02\/VIP-white-logo-proof.png","width":99,"height":64,"caption":"Drew Dodds"},"image":{"@id":"https:\/\/drewdodds.vipmtginc.com\/blog\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/drewdodds.vipmtginc.com\/blog\/#\/schema\/person\/a9b55d000ca877f53f3b7b733fb26b9b","name":"Drew Dodds","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/50115a8e87f789bfdaaf8ea95afd5571fb05c1ae4a529b7e221c9d8ac9b4c250?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/50115a8e87f789bfdaaf8ea95afd5571fb05c1ae4a529b7e221c9d8ac9b4c250?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/50115a8e87f789bfdaaf8ea95afd5571fb05c1ae4a529b7e221c9d8ac9b4c250?s=96&d=mm&r=g","caption":"Drew Dodds"},"url":"https:\/\/drewdodds.vipmtginc.com\/blog\/author\/drewd\/"}]}},"_links":{"self":[{"href":"https:\/\/drewdodds.vipmtginc.com\/blog\/wp-json\/wp\/v2\/posts\/594945","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/drewdodds.vipmtginc.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/drewdodds.vipmtginc.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/drewdodds.vipmtginc.com\/blog\/wp-json\/wp\/v2\/users\/26"}],"replies":[{"embeddable":true,"href":"https:\/\/drewdodds.vipmtginc.com\/blog\/wp-json\/wp\/v2\/comments?post=594945"}],"version-history":[{"count":1,"href":"https:\/\/drewdodds.vipmtginc.com\/blog\/wp-json\/wp\/v2\/posts\/594945\/revisions"}],"predecessor-version":[{"id":594949,"href":"https:\/\/drewdodds.vipmtginc.com\/blog\/wp-json\/wp\/v2\/posts\/594945\/revisions\/594949"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/drewdodds.vipmtginc.com\/blog\/wp-json\/wp\/v2\/media\/594948"}],"wp:attachment":[{"href":"https:\/\/drewdodds.vipmtginc.com\/blog\/wp-json\/wp\/v2\/media?parent=594945"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/drewdodds.vipmtginc.com\/blog\/wp-json\/wp\/v2\/categories?post=594945"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/drewdodds.vipmtginc.com\/blog\/wp-json\/wp\/v2\/tags?post=594945"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}