Blog


  • According to ADP, private payrolls saw their biggest decline in 2 1/2 years during September, a sign of labor market weakening.
  • Despite essential services staying open, the government shutdown means key reports won’t be released, including Friday’s jobs report.
  • Markets are already betting the shutdown will contribute to weakening the economy. There's increasing speculation of further Fed rate cuts.

Housing News

  • Pending sales of existing homes increased solidly in August to the highest level in 5 months, helped along by lower mortgage rates.
  • Data suggests home price growth is cooling nationwide. Appreciation is decelerating amid affordability pressure.
  • Real estate transactions that rely on government services, such as tax record confirmation, may be delayed while the government is closed.

Market Minute Report - Mortgage News