October 10th, 2025 3:58 PM by T. Fanning
Happy Friday!
Mortgage rates moved lower this week after a big drop in bonds on Friday, sparked by President Trump’s threat to hit China with additional “massive tariffs.” The market reacted fast, pushing investors toward safer assets like bonds, which helped ease rates. The government shutdown and delayed economic reports also added to the uncertainty, leaving traders to focus mostly on global headlines instead of U.S. data.
Next week was supposed to bring a bunch of major economic reports, including two key inflation updates and a big consumer spending report. But with the government shutdown, those releases are likely delayed—especially since it’s unclear if the data was finished before things shut down. Even if the government reopens soon, it’s unlikely we’ll see the reports on time. That means the Fed’s upcoming meeting later this month might happen without some of the important data they usually rely on.
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