11/03/2025
๐ก ๐๐ผ๐ฟ ๐๐ต๐ฒ ๐ช๐ฒ๐ฒ๐ธ ๐ผ๐ณ ๐ก๐ผ๐๐ฒ๐บ๐ฏ๐ฒ๐ฟ ๐ฏ, ๐ฎ๐ฌ๐ฎ๐ฑ
๐๐ฎ๐๐ ๐ช๐ฒ๐ฒ๐ธ'๐ ๐ ๐ผ๐ฟ๐๐ด๐ฎ๐ด๐ฒ ๐ฅ๐ฎ๐๐ฒ ๐ฅ๐ฒ๐ฐ๐ฎ๐ฝ: ๐ฅ๐ฎ๐๐ฒ๐ ๐บ๐ผ๐๐ฒ๐ฑ ๐ต๐ถ๐ด๐ต๐ฒ๐ฟ ๐
Why did rates jump last week after the Fed cut its policy rate by a quarter point? Because the rate cut was expected and already priced into mortgage rates. What wasn't expected was Fed Chair Powell's comments in his press conference that a December cut, also already priced into mortgage rates, "is not a foregone conclusion - far from it." That led markets to doubt a December cut, which was immediately reflected in mortgage rates.
๐ง๐ต๐ถ๐ ๐ช๐ฒ๐ฒ๐ธ'๐ ๐ ๐ผ๐ฟ๐๐ด๐ฎ๐ด๐ฒ ๐ฅ๐ฎ๐๐ฒ ๐๐ผ๐ฟ๐ฒ๐ฐ๐ฎ๐๐: ๐ฅ๐ฎ๐๐ฒ๐ ๐ฐ๐ผ๐๐น๐ฑ ๐บ๐ผ๐๐ฒ ๐ต๐ถ๐ด๐ต๐ฒ๐ฟ ๐
Mortgage rates this week could continue to move higher, as happened in September after the Fed meeting when the Fed also cut its policy rate, especially since this week's labor market data is likely to be delayed due to the continued government shutdown.
๐ ๐ช๐ต๐ฎ๐โ๐ ๐ฎ๐ณ๐ณ๐ฒ๐ฐ๐๐ถ๐ป๐ด ๐ฟ๐ฎ๐๐ฒ๐ ๐๐ต๐ถ๐ ๐๐ฒ๐ฒ๐ธ:
- Government shutdown: This week would have been a big week of labor market data that will be delayed for the second month in a row.
- Fed speakers: Markets will be listening to Fed members for clues on if a December Fed rate cut is more likely than currently being speculated. If markets increase expectations of a cut, it could help mortgage rates hold steady, but isn't likely to see them improve much from here.
