The Federal Reserve's preferred inflation indicator, the personal consumption expenditures (PCE) price index, saw a slight increase in February, moving annual inflation up to 2.5% and further from the Fed's 2% target, marking the first such move since September.

However, core inflation, which excludes food and energy prices, fell for the 13th consecutive month to 2.8%, aligning with economists' expectations and showing a deceleration in month-over-month growth. Despite this uptick, experts suggest the latest data could support a Federal Reserve interest rate cut in June, especially if upcoming reports continue to reflect a softening inflation trend and a weakening labor market.

Yet, Federal Reserve officials, including Governor Christopher Waller, express caution, emphasizing the importance of ensuring inflation trends downwards consistently before considering rate reductions. This cautious stance is reflected in the futures market's reduced odds for a June rate cut, highlighting the Fed's delicate balancing act between fostering economic growth and controlling inflation.

In Mesa County

There are currently 426 active homes on the market in Mesa County. This is a 2% decrease compared to a week ago.

The average sold price YTD is $411,560 and the median sold price YTD is $372,400.

Mortgage Rates Today

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