Ben Stanfield Realtor

The October jobs report came in much weaker than expected, slightly easing recent mortgage rate climbs. Yet rates will likely stay elevated due to ongoing election uncertainty, tariff issues, and debt concerns.

Two hurricanes and a Boeing strike have muddied the data, so the labor market's true condition remains unclear.

The Fed is expected to proceed with a 25-bps rate cut on November 7, with a further cut possible in December.

Mortgage Rates to Fall a Little After Weak Jobs Report, But All Eyes on Election A much weaker-than-expected October jobs report will reverse a very small part of the recent climb in mortgage rates. But they will remain elevated relative to where they were a month ago until the outcome of the election is known.

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