October 31st, 2025 1:22 PM by T. Fanning
Happy Halloween!
This week brought a surprise for mortgage rates. Even though the Fed cut its key rate, mortgage interest rates gave back some of their earlier decreases. Fed Chair Jerome Powell said another cut in December “is not a foregone conclusion,” noting there are big differences among policymakers on what to do next. That uncertainty rattled the market a bit, making investors more cautious and less confident about another rate cut this year.
Next week looks busy with reports that could affect mortgage rates. Monday brings the ISM manufacturing report, which shows how U.S. factories are doing, and Wednesday has ADP’s jobs report, which tracks private company hiring. A few other updates and Fed speeches early in the week could also move the market.
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