Mortgage rates uninspired by The Fed as shutdown lingers 🥱📉🐌

How long will the calm last?

Bonds have mostly checked out since the Fed announced their token rate cut on September 17^th.

Mortgage rates remaining flat for two-weeks was definitely not on anyone’s bingo card for October, especially not in the face of a government shutdown, but here we are…

However, gold prices have hit a new record high, crossing $4,000 oz for the first time ever.

I suggested keeping an eye on gold last week in this Substack post.

But for now, it seems bonds have lost their “risk-off” luster while precious metals shine.

As we wait for bond volatility to inevitability return, you can keep tabs on the daily fluctuation in mortgage rate prices by customizing your own LendZen scenario and using the Save Your Scenario option.

This will send you a private link you can use to anonymously check rates daily with one-click for your exact loan criteria.

You can also check the LendZen Index data series which is posted daily at LendZen.substack.com

Until Congress agrees on a new spending bill, key economic reports like Non-Farm Payroll will be on hold.

For how long will mortgage rates remain subdued?

We won’t know … it’s a waiting game.