Market Movement

Mortgage rates trended slightly lower toward the end of last week. The ongoing government shutdown prevented several economic reports from being released, but mortgage application submissions decreased a couple weeks ago.

Notable News:

More borrowers are turning to ARMs in the current market. https://www.cnbc.com/video/2025/10/08/borrowers-head-to-riskier-loans.html

Will sub-6% mortgage rates be coming to the market in 2026? https://www.housingwire.com/podcast/sub-6-mortgage-rates-for-2026/

Senate passes bill that could help increase housing affordability. https://www.scotsmanguide.com/news/senate-passes-defense-budget-bill-with-major-bipartisan-housing-reforms/

Market Recap:

Consumer credit came in much lower than expectations in August, at just $360M vs the $12.9B expected.

Mortgage application submissions slipped 4.7% during the week ending 10/3. The Refinance Index slipped 8% while the Purchase Index slipped 1%.

Weekly jobless claims were not reported this week due to the government shutdown.

The employment situation reports were not released this week due to the government shutdown.

Brought to you by:

Harrison George

NMLS ID# 1502081| Branch NMLS No. 1169469

Loan Officer | CMG Home Loans

Mobile: (925) 785-6828

Apply Now: www.cmghomeloans.com/mysite/harrison-george/apply

For all Real Estate Inquiries, DM Lori Chang REALTOR Sachi Hawaii Pacific Century Properties RS 84932 (808) 384-9061 lori@sachihawaii.com sachihawaii.com