11/02/2026
MONDAY MARKET UPDATE | NOVEMBER 2
Mortgage rates are showing some improvement, but what does the latest economic news mean for the housing market?
Here's what we covered today!
• Mortgage Rates Improve: Conventional rates have moved into the low 7% range after retreating from October's highs.
• Inflation Remains Elevated: September's PCE inflation came in at 3.6%, still above the Fed's 2% target.
• The Cost of Living: Slower inflation doesn't mean lower prices. Rising everyday expenses continue to put pressure on household affordability.
• Oil Prices Drop: Crude oil fell below $100 per barrel, offering potential relief from inflationary pressures.
• A Big Week for Markets: Midterm elections and Friday's jobs report could bring volatility to Treasury yields and mortgage rates.
The bottom line? We're seeing some encouraging movement in mortgage rates, but affordability is about more than an interest rate. Understanding the full financial picture is more important than ever!
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