Weekly Economic Update

From NAR: Existing-Home Sales Down 5.3% in Midwest in September. 

The government is once again open-for-business, and the Sept. Non-Farm Payrolls report, which had been delayed by the shutdown, will be released tomorrow. That’s the biggest report for the week ahead.

Since the shutdown has been resolved (for now,) many members of the Fed Open Market Committee – even ones who have not been “fans” of their bond-buying program – are sending signals that the Fed will not start to “taper” the program before the end of the year.

Bottom Line for Mortgages
Mortgage rates are hovering near 3-month lows as we start the week. It is an excellent time to get pre-qualified.


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