Weekly Market Update

Mortgage rates have taken a positive turn, edging lower with the recent Consumer Price Index release. The annual headline number came in at a promising 3.0%, down 0.1%, while the core reading, which excludes volatile components, remained steady at 3.0%, showing just a slight increase of 0.1%.

With the government shutdown reaching unprecedented lengths, the Fed is set to meet this week to assess and guide the nation’s monetary policy. While some private economic data has been released, the Fed is making decisions with limited visibility into the full economic picture. The market is expecting a quarter-point rate cut, and while inflation is still above target, there are positive signs of cooling in the labor market. Given these mixed signals, the Fed may wisely choose to keep rates steady while waiting for more comprehensive data, though a careful rate cut with a cautious policy statement might be a smart and proactive move. Regardless, mortgage rates are expected to continue trending gently downward, creating favorable conditions moving forward.

Now is a great time to explore mortgage options. 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 guide you through this dynamic market!