Market Perspective

During another light week of economic data due to the government shutdown, the biggest market-moving news was a report that showed greater than expected strength in the services sector. As a result, rates ended the week a bit higher.

Over the past week, a key economic report revealed that inflation was a bit lower than expected, but it caused little reaction. The Federal Reserve meeting shed some doubt on another anticipated rate cut at the next meeting in December, which was negative for mortgage markets. As a result, rates ended the week a bit higher, up from their lowest levels of the year.

Trust in housing professionals is slipping, and younger buyers are leading the shift. According to the 2025 NextGen Homebuyer Report, Gen Z and Millennial trust in banks, lenders, and real estate professionals is at an all-time low. As we head into 2026, rebuilding trust must be at the heart of our strategy.

Mortgage markets were quiet over the past week. The relatively small amount of economic data provided by private companies caused little reaction. As a result, mortgage rates ended the week down slightly, near their lowest levels of the year.