Weekly Update - 10/2/26

Hello! I hope you had a great week. Here is this week's Market Weekly update.

Headlines surrounding the Middle East conflict continued to create some ups and downs in mortgage markets this week. A weaker-than-expected jobs report also grabbed attention, with the U.S. economy adding just 29,000 jobs in September versus the 85,000 expected. Wage growth slowed to 3.0% annually, while unemployment rose to 4.2%. Inflation remains a concern, with core PCE holding at 3.0%, still well above the Fed’s 2% target. For now, investors expect the Fed to hold rates steady at its October meeting, but uncertainty remains. Mortgage rates could continue to be volatile as markets react to economic data, Fed comments, and global events.

Looking ahead, investors will continue to watch the conflict in the Middle East and oil prices. They’ll also be paying close attention to comments from Fed officials about future monetary policy. The detailed minutes from the Fed’s September 16 meeting will be released Wednesday. It will be a light week for economic reports, with the ISM Services Index coming out Monday and the Trade Deficit report on Tuesday.

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