Inflation as measured by the Consumer Price Index dropped to an annual rate of 2.4% last month, but the impact of tariffs probably won't start showing up in the data until May
A surprisingly large increase in core CPI, which excludes volatile food and energy prices, means Fed policymakers are likely to start out with a modest 25 basis-point rate cut next week
The Fed doesn't have direct control over mortgage rates, but they've come down dramatically as investors are convinced policymakers will cut rates at their 3 remaining 2024 meetings