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  • After a few months of calm, tensions between the U.S. and China reignited in recent weeks, sparking new concerns over trade and tariffs.
  • The government shutdown is in its 3rd week with no end in sight, limiting key data on the labor market and economy.
  • Fed Chair Powell said quantitative tightening might wrap up soon, potentially limiting the supply of mortgage bonds and driving down rates.

Housing News

 

  • According to ICE, the average credit score for purchasers locking their rates was 736 in September, the highest in 6 years of tracking.
  • Purchase apps fell for the 3rd straight week but remain 20% above last year as rising inventory keeps some buyers engaged.
  • In a Realtor.com survey, 82% of Gen Z respondents believed homebuying is harder for their generation. Affordability was the top life concern for 18%.

Market Minute Report - Mortgage News