Government Shutdown Hits Pause on Jobs Report. What It Means for Rates.

Good morning,

We are starting another week with the government still shut down. So far, we haven't seen major delays with FHA or VA loans, but if this continues, it could begin to impact processing times.

The bond market is in a bit of limbo without key economic reports that traders rely on for direction. However, this week we'll get CPI (Wednesday) and PPI (Thursday). Both are critical inflation updates that could move mortgage rates.

Tariff talk also returned last week, shaking up the stock and crypto markets. Interestingly, that volatility helped the bond market rally slightly on Friday, but we'll have to see if it holds as markets reopen tomorrow.

Mortgage Rates ➡️

Pricing has stayed pretty steady over the past few weeks with rates being right at the same levels to start this week as they were last week. FHA/VA are staying right around the 6% mark at par (no discount points) with Conventional coming in closer to the mid 6's.

The national average for a 30-year fixed conventional is sitting at 6.32% according to Mortgage News Now. (Keep in mind, this assumes 25% down, perfect credit, single-family home, and one-point buydown.)

Other Helpful Articles:

• Fed Governor Calls for Cautionary Policy Changes Ahead of FOMC Meeting
• 10 Real Estate Designations & Certifications That Make You Money
• 46% of Real Estate Agents Aren’t Using AI, According to a New Survey

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