📉 Mortgage Rate Movement
30-Year Fixed Rate (0 points): Flat since Monday, November 10th
Rates held steady this week, showing no upward or downward movement as markets await key economic data and Federal Reserve commentary.
📌 Weekly Market Highlights
1. Government Reopens & Data Resumes
With federal agencies reopening, delayed reports from the Bureau of Labor Statistics (BLS) and Bureau of Economic Analysis (BEA) will soon be released. Expect updated figures on inflation, jobs, GDP, retail sales, and housing—data that could influence rate direction.
2. Fed Decision Will Depend on New Data
Ahead of the December 9–10 Fed meeting, Jerome Powell emphasized there is “no risk-free path” and hinted that another December rate cut is not guaranteed. Markets will be closely watching incoming labor and consumer data.
3. ADP Data Shows Late-October Job Losses
While early October reported modest gains, late-October payroll data revealed an average 11,250 job losses per week, signaling potential softening in the labor market.
4. Home Prices Strengthen
Housing data continues to show resilience:
- ICE reports a 0.15% rise in home prices for October—the strongest monthly gain since March.
- Annual appreciation ticked up 0.9%, ending a nine-month slowdown.
5. Forecasts Call for More Appreciation
Real estate analysts at Cotality now project 4.1% home price growth over the next 12 months as rate expectations ease.
6. Retail Sales Rebound
Despite delays from the shutdown, private-sector data shows:
- 7 out of 9 retail categories increased in October
- A broad recovery in consumer activity heading into the holidays
7. Fed Closely Watching Consumer & Labor Trends
All eyes remain on the interplay between hiring, spending, and inflation as policymakers decide how to guide rates into year-end.
📅 What to Watch This Week
Here are the key reports coming up:
- NAHB Home Builder Confidence — Tuesday
- Existing Home Sales — Thursday
- Delayed September Jobs Report — Thursday
Each of these has the potential to influence rate movement and market conditions.
We’re Here to Help
If you have questions about how these trends may impact buying, selling, or refinancing, our team is always on standby.
Cheers,
Drew & Team
