Weekly Market Update

Last week's economic data brought some truly encouraging signs that the economy is holding strong. The jobs report exceeded expectations, with 119,000 new jobs created, a great indication that the labor market remains robust. Even though the unemployment rate ticked up slightly, it’s a positive sign that more people are confident enough to enter the workforce. This is a great indicator of a healthy, expanding job market. Additionally, Existing Home Sales rose 1.2%, showing that demand in the housing market remains solid, despite challenges like higher interest rates. This is great news for those in the real estate space, signaling resilience across key sectors of the economy.

While there was a slight dip in Consumer Sentiment, it’s important to keep in mind that consumer confidence can fluctuate with market conditions, and it doesn’t necessarily point to any long-term weakness. Many factors can influence sentiment, and overall, the economy continues to demonstrate strength, with steady progress in employment and housing.

Looking ahead, the upcoming debate over the Fed’s December meeting will likely focus on the continued strength we’re seeing in the economy. With such strong data so far, there’s confidence that the Fed has the flexibility to make decisions based on solid fundamentals. As they have all year, they’re likely to wait for additional clarity, but the outlook remains positive, especially as we enter the final quarter of the year. It’s great to see that the Fed has room to be strategic, without feeling pressured to act prematurely.

The question of whether the Fed might trim rates before 2026 is an interesting one. Given the current economic trends, it seems likely that they will continue to monitor conditions carefully and won’t rush into drastic moves. However, should we continue to see strength in key areas like job growth and housing, we could see a thoughtful approach that supports further economic growth.

As always, if you, or anyone you know, is interested in obtaining mortgage financing, don’t hesitate to reach out to my team today at 541-815-6596. We’re here to help navigate the market and find the best solutions to suit your needs!