Weekly Market Update

Mortgage rates held steady again last week as the Federal Reserve trimmed the Fed Funds rate and reinforced a measured, supportive approach to monetary policy. The move reflects the Fed’s confidence that inflation is becoming more manageable, giving policymakers greater flexibility to support continued economic growth and a healthy labor market. While there were a range of opinions among Fed members, the decision underscores a clear commitment to maintaining stability.

During his post-meeting press conference, Fed Chair Jerome Powell emphasized that monetary policy is now near neutral—an encouraging development that suggests interest rates are much closer to a sustainable long-term level. He also indicated that any future policy changes are likely to be gradual and potentially delayed until next year, helping to limit volatility and create a more predictable rate environment.

This week brings several key economic reports, including the October employment data, Retail Sales, and the latest Consumer Price Index (CPI). Powell noted that payroll data may be overstated by as much as 60,000 jobs, meaning softer readings could signal a smooth normalization in the labor market. Markets often respond favorably to this type of data, which could provide modest downward pressure on mortgage rates and create opportunities for borrowers.

If you, or anyone you know is interested in obtaining mortgage financing, reach out to my team today at 541-815-6596.