{"id":78071,"date":"2024-06-12T09:11:58","date_gmt":"2024-06-12T16:11:58","guid":{"rendered":"https:\/\/www.redfin.com\/news\/?p=78071"},"modified":"2024-06-12T09:11:58","modified_gmt":"2024-06-12T16:11:58","slug":"may-2024-inflation-report","status":"publish","type":"post","link":"https:\/\/www.redfin.com\/news\/may-2024-inflation-report\/","title":{"rendered":"Cooler-Than-Expected Inflation Report Should Bring Homebuyers Some Relief By Pushing Mortgage Rates Down"},"content":{"rendered":"<p><i><span style=\"font-weight: 400;\">The May inflation report shows that inflation is continuing to cool, which could be the nudge the Fed needs to set the stage for impending rate cuts at their June meeting. That would be good news for the housing market, because it would bring mortgage rates down\u2013at least slightly.\u00a0<\/span><\/i><\/p>\n<p><span style=\"font-weight: 400;\">Inflation continued to cool in May, with the latest <\/span><a href=\"https:\/\/www.bls.gov\/news.release\/cpi.nr0.htm\"><span style=\"font-weight: 400;\">CPI report<\/span><\/a><span style=\"font-weight: 400;\"> showing that price increases have slowed more than expected. That\u2019s good news for homebuyers because it means the Fed is more likely than not to cut interest rates in September, and brings back a slight possibility that they start cutting earlier than expected, as soon as July.\u00a0<\/span><\/p>\n<p><b>The key metric of core inflation rose 0.16% from the prior month (3.4% YoY) in May, well below expectations. <\/b><span style=\"font-weight: 400;\">That is the lowest monthly increase since August 2001.<\/span> <span style=\"font-weight: 400;\">Headline inflation, which includes volatile food and energy prices, rose 0.0% MoM (3.3% YoY), also below expectations of 0.1% MoM (3.4% YoY), due to large declines in energy prices.<\/span><\/p>\n<p><b>A turnaround in motor vehicle insurance costs and decline in airfares drove the drop in inflation relative to earlier this year. <\/b><span style=\"font-weight: 400;\">Shelter inflation (both rent of primary residence and owner\u2019s equivalent rent) remained at 0.4% MoM, similar to previous months, still not fully reflecting the slowdown in market rent data over the past 18 months, meaning there is reason still to believe that inflation will fall further.<\/span><\/p>\n<p><b>Depending on how the PPI data comes in tomorrow, core PCE, the Fed\u2019s preferred inflation metric, may come in below the Fed\u2019s target monthly pace. <\/b><span style=\"font-weight: 400;\">That would set the stage for the cutting cycle to start late summer\/early fall. While the January to March inflation readings were uncomfortably high, they started to moderate last month. With today\u2019s May data, the high readings from the first quarter look increasingly like the result of residual seasonality post-COVID, rather than inflation getting stuck. That means start-of-year effects are not being fully accounted for by the seasonal adjustment processes used by government statistical agencies, and are producing high inflation readings.<\/span><\/p>\n<p><b>If the Fed starts cutting rates in September, they\u2019re more likely to squeeze in two rate cuts this year. <\/b><span style=\"font-weight: 400;\">All of this depends on monthly inflation data. The Fed has said that if core PCE readings come in at their target, they can cut rates. But there are <\/span><a href=\"https:\/\/www.washingtonpost.com\/opinions\/2024\/06\/06\/federal-reserve-interest-rates-inflation\/\"><span style=\"font-weight: 400;\">good reasons<\/span><\/a><span style=\"font-weight: 400;\"> to believe the PCE data doesn\u2019t reflect current economic conditions; ideally, the Fed would use that data but also be flexible about ignoring parts of it that have known issues. There is still one more inflation report before the July Fed meeting, and three before the September Fed meeting.<\/span><\/p>\n<p><b>Investors will be paying close attention to whether the Fed predicts one or two rate cuts this afternoon in their new set of projections. <\/b><span style=\"font-weight: 400;\">Officials will have a chance to digest this new inflation data before finalizing their individual forecasts today. They will also have in their minds the bevy of recent economic data that, with the exception of the <\/span><a href=\"https:\/\/www.redfin.com\/news\/may-2024-jobs-report\/\"><span style=\"font-weight: 400;\">establishment survey in the jobs report<\/span><\/a><span style=\"font-weight: 400;\">\u2013which showed more job creation than expected in May\u2013has been pretty weak, indicating that high rates continue to weigh on the economy. That means they may be more likely to lean toward two rate cuts. The Fed is meeting later today, which will give us a better sense of the rate-cut timeline.\u00a0<\/span><\/p>\n<p><b>This could boost housing-market activity. <\/b><span style=\"font-weight: 400;\">For homebuyers and sellers, today\u2019s inflation data points to slightly lower mortgage rates in the near future as the Fed likely solidifies its plans for cutting interest rates. That could bring a much-needed boost to the housing market in the later part of the year when the housing market normally slows down.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The May inflation report shows that inflation is continuing to cool, which could be the nudge the Fed needs to set the stage for impending rate cuts at their June meeting. That would be good news for the housing market, because it would bring mortgage rates down\u2013at least slightly.\u00a0 Inflation continued to cool in May, [&hellip;]<\/p>\n","protected":false},"author":13558,"featured_media":78072,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"default","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[632],"tags":[36,623],"coauthors":[622],"class_list":["post-78071","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-from-our-economists","tag-economics","tag-national"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.7 (Yoast SEO v27.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Cooler-Than-Expected Inflation Report Should Bring Homebuyers Some Relief By Pushing Mortgage Rates Down<\/title>\n<meta name=\"description\" content=\"The May inflation report shows that inflation is continuing to cool, which could be the nudge the Fed needs to set the stage for impending rate cuts at their June meeting. That would be good news for homebuyers, because it would bring mortgage rates down\u2013at least slightly.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.redfin.com\/news\/may-2024-inflation-report\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cooler-Than-Expected Inflation Report Should Bring Homebuyers Some Relief By Pushing Mortgage Rates Down\" \/>\n<meta property=\"og:description\" content=\"The May inflation report shows that inflation is continuing to cool, which could be the nudge the Fed needs to set the stage for impending rate cuts at their June meeting. That would be good news for homebuyers, because it would bring mortgage rates down\u2013at least slightly.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.redfin.com\/news\/may-2024-inflation-report\/\" \/>\n<meta property=\"og:site_name\" content=\"Redfin Real Estate News\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/redfin\" \/>\n<meta property=\"article:published_time\" content=\"2024-06-12T16:11:58+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2024\/06\/andre-taissin-5OUMf1Mr5pU-unsplash-scaled.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2560\" \/>\n\t<meta property=\"og:image:height\" content=\"1707\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Chen Zhao\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@redfin\" \/>\n<meta name=\"twitter:site\" content=\"@redfin\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Chen Zhao\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/may-2024-inflation-report\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/may-2024-inflation-report\\\/\"},\"author\":{\"name\":\"Chen Zhao\",\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#\\\/schema\\\/person\\\/a0a62ede97b24e6f17c1cffb6ffdd574\"},\"headline\":\"Cooler-Than-Expected Inflation Report Should Bring Homebuyers Some Relief By Pushing Mortgage Rates Down\",\"datePublished\":\"2024-06-12T16:11:58+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/may-2024-inflation-report\\\/\"},\"wordCount\":626,\"publisher\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/may-2024-inflation-report\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.redfin.com/news\\\/wp-content\\\/uploads\\\/2024\\\/06\\\/andre-taissin-5OUMf1Mr5pU-unsplash-scaled.jpg\",\"keywords\":[\"Economics\",\"national\"],\"articleSection\":[\"From Our Economists\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2024\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/may-2024-inflation-report\\\/\",\"url\":\"https:\\\/\\\/www.redfin.com/news\\\/may-2024-inflation-report\\\/\",\"name\":\"Cooler-Than-Expected Inflation Report Should Bring Homebuyers Some Relief By Pushing Mortgage Rates Down\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/may-2024-inflation-report\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/may-2024-inflation-report\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.redfin.com/news\\\/wp-content\\\/uploads\\\/2024\\\/06\\\/andre-taissin-5OUMf1Mr5pU-unsplash-scaled.jpg\",\"datePublished\":\"2024-06-12T16:11:58+00:00\",\"description\":\"The May inflation report shows that inflation is continuing to cool, which could be the nudge the Fed needs to set the stage for impending rate cuts at their June meeting. That would be good news for homebuyers, because it would bring mortgage rates down\u2013at least slightly.\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/may-2024-inflation-report\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.redfin.com/news\\\/may-2024-inflation-report\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/may-2024-inflation-report\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.redfin.com/news\\\/wp-content\\\/uploads\\\/2024\\\/06\\\/andre-taissin-5OUMf1Mr5pU-unsplash-scaled.jpg\",\"contentUrl\":\"https:\\\/\\\/www.redfin.com/news\\\/wp-content\\\/uploads\\\/2024\\\/06\\\/andre-taissin-5OUMf1Mr5pU-unsplash-scaled.jpg\",\"width\":1800,\"height\":1200},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/may-2024-inflation-report\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.redfin.com/news\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Cooler-Than-Expected Inflation Report Should Bring Homebuyers Some Relief By Pushing Mortgage Rates Down\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#website\",\"url\":\"https:\\\/\\\/www.redfin.com/news\\\/\",\"name\":\"Redfin Real Estate News\",\"description\":\"The latest real estate news and research from technology-powered residential real estate company, Redfin.\",\"publisher\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.redfin.com/news\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#organization\",\"name\":\"Redfin\",\"url\":\"https:\\\/\\\/www.redfin.com/news\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/www.redfin.com\\\/news\\\/wp-content\\\/uploads\\\/2020\\\/10\\\/Redfin-News-Logo.png\",\"contentUrl\":\"https:\\\/\\\/www.redfin.com\\\/news\\\/wp-content\\\/uploads\\\/2020\\\/10\\\/Redfin-News-Logo.png\",\"width\":1100,\"height\":235,\"caption\":\"Redfin\"},\"image\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#\\\/schema\\\/logo\\\/image\\\/\"},\"sameAs\":[\"https:\\\/\\\/www.facebook.com\\\/redfin\",\"https:\\\/\\\/x.com\\\/redfin\",\"https:\\\/\\\/www.instagram.com\\\/redfinrealestate\\\/\",\"https:\\\/\\\/www.linkedin.com\\\/company\\\/redfin\",\"https:\\\/\\\/www.pinterest.com\\\/redfin\\\/\",\"https:\\\/\\\/en.wikipedia.org\\\/wiki\\\/Redfin\"]},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#\\\/schema\\\/person\\\/a0a62ede97b24e6f17c1cffb6ffdd574\",\"name\":\"Chen Zhao\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/wp-content\\\/uploads\\\/2023\\\/09\\\/Chen_Zhao-150x150.jpg83fdc0124d9fcdfe5e5d8583a850a63f\",\"url\":\"https:\\\/\\\/www.redfin.com/news\\\/wp-content\\\/uploads\\\/2023\\\/09\\\/Chen_Zhao-150x150.jpg\",\"contentUrl\":\"https:\\\/\\\/www.redfin.com/news\\\/wp-content\\\/uploads\\\/2023\\\/09\\\/Chen_Zhao-150x150.jpg\",\"caption\":\"Chen Zhao\"},\"description\":\"Chen Zhao is the head of economics research, where she produces research on the housing market for public and internal audiences. Previously, she was an executive director leading housing finance and financial markets research at the JPMorgan Chase Institute. Prior to joining JPMCI, Chen was an economics consultant at Analysis Group, Inc., where she worked on financial litigation cases and led teams conducting health economics and outcomes research on behalf of pharmaceutical companies. While in graduate school, Chen was with the Center for Economic Studies and the Social Economic and Housing Statistics Division at the US Census Bureau, where she conducted applied microeconomics research using large scale restricted-access linked survey-administrative data. She started her career at the White House Council of Economic Advisers, where she focused on labor and health economics.\",\"url\":\"https:\\\/\\\/www.redfin.com/news\\\/author\\\/chen-zhao\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Cooler-Than-Expected Inflation Report Should Bring Homebuyers Some Relief By Pushing Mortgage Rates Down","description":"The May inflation report shows that inflation is continuing to cool, which could be the nudge the Fed needs to set the stage for impending rate cuts at their June meeting. That would be good news for homebuyers, because it would bring mortgage rates down\u2013at least slightly.","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:\/\/www.redfin.com\/news\/may-2024-inflation-report\/","og_locale":"en_US","og_type":"article","og_title":"Cooler-Than-Expected Inflation Report Should Bring Homebuyers Some Relief By Pushing Mortgage Rates Down","og_description":"The May inflation report shows that inflation is continuing to cool, which could be the nudge the Fed needs to set the stage for impending rate cuts at their June meeting. That would be good news for homebuyers, because it would bring mortgage rates down\u2013at least slightly.","og_url":"https:\/\/www.redfin.com\/news\/may-2024-inflation-report\/","og_site_name":"Redfin Real Estate News","article_publisher":"https:\/\/www.facebook.com\/redfin","article_published_time":"2024-06-12T16:11:58+00:00","og_image":[{"width":2560,"height":1707,"url":"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2024\/06\/andre-taissin-5OUMf1Mr5pU-unsplash-scaled.jpg","type":"image\/jpeg"}],"author":"Chen Zhao","twitter_card":"summary_large_image","twitter_creator":"@redfin","twitter_site":"@redfin","twitter_misc":{"Written by":"Chen Zhao","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.redfin.com\/news\/may-2024-inflation-report\/#article","isPartOf":{"@id":"https:\/\/www.redfin.com\/news\/may-2024-inflation-report\/"},"author":{"name":"Chen Zhao","@id":"https:\/\/www.redfin.com\/news\/#\/schema\/person\/a0a62ede97b24e6f17c1cffb6ffdd574"},"headline":"Cooler-Than-Expected Inflation Report Should Bring Homebuyers Some Relief By Pushing Mortgage Rates Down","datePublished":"2024-06-12T16:11:58+00:00","mainEntityOfPage":{"@id":"https:\/\/www.redfin.com\/news\/may-2024-inflation-report\/"},"wordCount":626,"publisher":{"@id":"https:\/\/www.redfin.com\/news\/#organization"},"image":{"@id":"https:\/\/www.redfin.com\/news\/may-2024-inflation-report\/#primaryimage"},"thumbnailUrl":"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2024\/06\/andre-taissin-5OUMf1Mr5pU-unsplash-scaled.jpg","keywords":["Economics","national"],"articleSection":["From Our Economists"],"inLanguage":"en-US","copyrightYear":"2024","copyrightHolder":{"@id":"https:\/\/www.redfin.com\/news\/#organization"}},{"@type":"WebPage","@id":"https:\/\/www.redfin.com\/news\/may-2024-inflation-report\/","url":"https:\/\/www.redfin.com\/news\/may-2024-inflation-report\/","name":"Cooler-Than-Expected Inflation Report Should Bring Homebuyers Some Relief By Pushing Mortgage Rates Down","isPartOf":{"@id":"https:\/\/www.redfin.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.redfin.com\/news\/may-2024-inflation-report\/#primaryimage"},"image":{"@id":"https:\/\/www.redfin.com\/news\/may-2024-inflation-report\/#primaryimage"},"thumbnailUrl":"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2024\/06\/andre-taissin-5OUMf1Mr5pU-unsplash-scaled.jpg","datePublished":"2024-06-12T16:11:58+00:00","description":"The May inflation report shows that inflation is continuing to cool, which could be the nudge the Fed needs to set the stage for impending rate cuts at their June meeting. That would be good news for homebuyers, because it would bring mortgage rates down\u2013at least slightly.","breadcrumb":{"@id":"https:\/\/www.redfin.com\/news\/may-2024-inflation-report\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.redfin.com\/news\/may-2024-inflation-report\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.redfin.com\/news\/may-2024-inflation-report\/#primaryimage","url":"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2024\/06\/andre-taissin-5OUMf1Mr5pU-unsplash-scaled.jpg","contentUrl":"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2024\/06\/andre-taissin-5OUMf1Mr5pU-unsplash-scaled.jpg","width":1800,"height":1200},{"@type":"BreadcrumbList","@id":"https:\/\/www.redfin.com\/news\/may-2024-inflation-report\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.redfin.com\/news\/"},{"@type":"ListItem","position":2,"name":"Cooler-Than-Expected Inflation Report Should Bring Homebuyers Some Relief By Pushing Mortgage Rates Down"}]},{"@type":"WebSite","@id":"https:\/\/www.redfin.com\/news\/#website","url":"https:\/\/www.redfin.com\/news\/","name":"Redfin Real Estate News","description":"The latest real estate news and research from technology-powered residential real estate company, Redfin.","publisher":{"@id":"https:\/\/www.redfin.com\/news\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.redfin.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.redfin.com\/news\/#organization","name":"Redfin","url":"https:\/\/www.redfin.com\/news\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.redfin.com\/news\/#\/schema\/logo\/image\/","url":"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2020\/10\/Redfin-News-Logo.png","contentUrl":"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2020\/10\/Redfin-News-Logo.png","width":1100,"height":235,"caption":"Redfin"},"image":{"@id":"https:\/\/www.redfin.com\/news\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/redfin","https:\/\/x.com\/redfin","https:\/\/www.instagram.com\/redfinrealestate\/","https:\/\/www.linkedin.com\/company\/redfin","https:\/\/www.pinterest.com\/redfin\/","https:\/\/en.wikipedia.org\/wiki\/Redfin"]},{"@type":"Person","@id":"https:\/\/www.redfin.com\/news\/#\/schema\/person\/a0a62ede97b24e6f17c1cffb6ffdd574","name":"Chen Zhao","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2023\/09\/Chen_Zhao-150x150.jpg83fdc0124d9fcdfe5e5d8583a850a63f","url":"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2023\/09\/Chen_Zhao-150x150.jpg","contentUrl":"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2023\/09\/Chen_Zhao-150x150.jpg","caption":"Chen Zhao"},"description":"Chen Zhao is the head of economics research, where she produces research on the housing market for public and internal audiences. Previously, she was an executive director leading housing finance and financial markets research at the JPMorgan Chase Institute. Prior to joining JPMCI, Chen was an economics consultant at Analysis Group, Inc., where she worked on financial litigation cases and led teams conducting health economics and outcomes research on behalf of pharmaceutical companies. While in graduate school, Chen was with the Center for Economic Studies and the Social Economic and Housing Statistics Division at the US Census Bureau, where she conducted applied microeconomics research using large scale restricted-access linked survey-administrative data. She started her career at the White House Council of Economic Advisers, where she focused on labor and health economics.","url":"https:\/\/www.redfin.com\/news\/author\/chen-zhao\/"}]}},"_links":{"self":[{"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/posts\/78071","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/users\/13558"}],"replies":[{"embeddable":true,"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/comments?post=78071"}],"version-history":[{"count":0,"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/posts\/78071\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/media\/78072"}],"wp:attachment":[{"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/media?parent=78071"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/categories?post=78071"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/tags?post=78071"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/coauthors?post=78071"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}