"The U.S. Bureau of Labor Statistics, for example, didn't release employment numbers for September, and that's expected to create decision-making hurdles for Federal Reserve monetary policymakers when they meet again later this month. As much as the current administration would like to see interest rates much lower, they have to understand that some of the ramifications of their actions could actually cause rates to go up, she says."
"This is now the third time in the last five weeks we've seen rates settle near their lowest levels in a year, a clear signal that we're no longer in the volatile rate environment of earlier this year, Dedhia said following the release of Freddie Mac's weekly mortgage rates data. These steady improvements are beginning to make a meaningful impact on consumer behavior, he added. Buyers who had paused their home search due to affordability concerns are showing renewed interest, and the data reflects it."
Two weeks into the federal government shutdown, mortgage rates remain unchanged but may rise if the shutdown's effects persist. The shutdown is creating a data void for housing professionals, with the U.S. Bureau of Labor Statistics failing to release September employment numbers, which could complicate Federal Reserve policy decisions. Political standoff continues as the Senate prepares another vote on a House funding proposal amid disputes over health insurance tax credits. Recent Freddie Mac data show rates settling near year-long lows multiple times, prompting renewed buyer interest and a consistent uptick in purchase activity. Declining national single-family for-sale inventory is adding pressure to the market.
Read at www.housingwire.com
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