The Personal Consumption Expenditures (PCE) price index fell by 0.1% in November, putting the inflation rate at 2.6%, which is lower than the expected 2.9%.

The Core PCE, which excludes food and energy and provides a less volatile perspective and is the Fed’s preferred metric, decreased from 3.5% to 3.2%, below the expected 3.4%.

With all that said, the likelihood of the Fed cutting rates at their March 20th meeting is now 86%.

This is all good news and bodes well for continued relief with mortgage interest rates.

A personal thank you to everyone this year. These blogs and video blogs have been an integral part of my life, and I appreciate all the feedback and support.

Cheers and Happy Holidays, and here’s to 2024.