MARKET UPDATE

RATES DROP AMID MARKET UNCERTAINTY

This past week, rates hit their lowest levels of the year—showing that uncertainty can bring unexpected opportunities. With the Fed pausing Quantitative Tightening and investors rushing into bonds, mortgage rates saw a slight drop despite strong job data.

This morning, the average lender is offering top-tier conventional 30-year fixed rates near 6.55% with no points (source: Mortgage News Daily), continuing the downward trend.

Rates & Portland Market Takeaways:

• Bond market wins from uncertainty – A rough month for stocks pushed more investors into bonds, helping rates improve.
• The Fed is pressing pause – By halting QT, the Fed is keeping bond demand stable, helping prevent rate spikes.
• The 10-year Treasury broke a key level – The 10-year Treasury yield broke below 4.20% for the first time in months, a level that could now act as resistance.
• Next week’s CPI report is key – Inflation data will shape the Fed’s next move, with the potential to drive rates even lower—or reverse course.

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