About Jon Iacono
Jon Iacono brings his 21+ years of experience in the industry to Advisors Mortgage Group. Jon was born in Brooklyn, NY but has lived the majority of his life in Monmouth County, NJ. As a graduate of Monmouth University with a concentration in Management and Computer Science, Jon brings his training and education to Advisors Mortgage to help grow and manage the recruiting team.
Jon worked alongside many mortgage and real estate industry professionals previously with Mortgage Intelligence companies such as, Mortgage Market Guide, Loan Tool Box, Certified, Scripts for Success, CMPS, MBS Highway, Turning Point CRM and more. Jon gives back to his community and has been an active volunteer firefighter for the Colts Neck 84 -1 station since 2004. He enjoys staying active by playing golf, lifting weights, boxing, training Jiu Jitsu and most importantly spending time with his two kids Lily and Jonny Jr.
Inflation Index Lower Than Expected and Could Be Getting Better in ‘25
December 30, 2024
The Federal Reserve’s preferred inflation measure, the Personal Consumption Expenditures (PCE) Index, showed headline inflation rose 0.128% in November and 2.4% year over year, slightly better than expected.
Core PCE, which excludes food and energy, rose 0.125%, keeping year-over-year core inflation at 2.8%, below the market’s expectation of 3%. Analysts had expected a rise to 2.9%, but shelter costs, while still elevated, contributed less than anticipated.
Shelter remains the largest driver of inflation, rising 4.78% annually. However, real-time CoreLogic data shows a smaller 1.7% increase. Adjusting for real-time shelter data, core inflation would be 2.3%, not 2.8%.
This month’s core reading, at 0.115% (annualized to 1.4%), was very low, but year-over-year inflation stayed at 2.8% due to last November’s low comparison point. Higher replacement figures starting in January could accelerate inflation progress if monthly readings stay tame and shelter prices adjust further. And if there is progress or lower inflation the Bond market should garner interest from investors pushing mortgage rates lower!
Source : https://bit.ly/3Vq16rc
