Weekly Market Update

Although the U.S. government experienced a brief pause last week due to a delayed budget agreement, financial markets remained calm, and mortgage rates held steady within a narrow, stable range. This environment continues to offer buyers and homeowners a level of predictability that can be beneficial when exploring financing options.

While some government-issued economic data is temporarily on hold, private-sector sources are stepping up to fill the gap, ensuring that markets and the Federal Reserve can still monitor key trends. Last week’s ISM reports provided encouraging insights: the Manufacturing Index ticked up slightly, and while the Services Index landed at 50.0, it reflects a market finding its footing after a long period of volatility.

Importantly, the overall economic narrative remains constructive. With inflation pressures showing signs of easing and growth being carefully monitored, expectations are building for another rate cut from the Federal Reserve before year-end. The upcoming release of the Fed's meeting minutes could reinforce this outlook, especially if the tone continues to favor supporting growth.

In the meantime, the current mortgage environment presents real opportunities. If you, or anyone you know, is interested in obtaining mortgage financing, reach out to my team today at 541-815-6596. We’re here to help you make the most of the moment.