Here’s what you need to know...
Pending Home Sales Beat Expectations
The biggest story:Â Pending home sales rose 1.9% in October, beating forecasts and confirming that buyer activity is picking up as mortgage rates drift lower.
Economic Data at a Glance
Core wholesale prices rose less than expected → easing inflation pressures
PCE & CPI continue to show gradual cooling
PPI came in at +0.3%, matching expectations
Payrolls rose by 119,000 while unemployment ticked up to 4.4%
Impact on Mortgage RatesÂ
Even though this data is from September, it had an immediate effect: the 10-year Treasury fell to 3.99%, bringing mortgage rates down with it. Rates are now roughly an 1/8th percent better than yesterday, still sitting in the high-5% to mid-6% range depending on the loan program.
As we head into the final Fed meeting of 2025, markets are pricing in an 83% chance of a quarter-point rate cut (CME FedWatch). A cut would only add fuel to the buyer momentum we’re already seeing.
This Thanksgiving, let us help you cut through the opinions at the table and stick to the facts: the market is warming up, rates are trending lower, and it’s a great time to buy.Â
Wishing you a wonderful Thanksgiving, and reminding you that we’re here all weekend to help get you into escrow!
