Market Perspective

With a lack of major economic data, mortgage markets were relatively quiet over the past week. The Federal Reserve minutes caused little reaction, and mortgage rates ended the week slightly higher.

During another light week for economic data due to the government shutdown, mortgage markets were relatively quiet. One report revealed that consumers were far less optimistic than expected about the economic outlook. As a result, rates ended the week slightly lower.

During another light week for economic data due to the government shutdown, mortgage markets were relatively quiet. One report revealed that consumers were far less optimistic than expected about the economic outlook. As a result, rates ended the week slightly lower.

Over the past week, a key economic report revealed that inflation was a bit lower than expected, but it caused little reaction. The Federal Reserve meeting shed some doubt on another anticipated rate cut at the next meeting in December, which was negative for mortgage markets. As a result, rates ended the week a bit higher, up from their lowest levels of the year.