Rates Quiet, Market Patient, Buyers Sneaking Ahead

🏛️ National Snapshot

No new CPI or jobs releases arrived this week, leaving markets to lean on October’s cooling inflation trend and the continued softening in labor demand. Wage growth remains on track toward 3.5% year-over-year, and job openings continue to slide.

The Fed repeated its current message: “higher for longer… but almost done.” Markets are still split between an early-Q2 or late-Q2 2026 first rate cut.

🏦 Rates and Lending

Mortgage rates held steady in the high-6s to low-7s. Minor intraday movement was tied to shutdown negotiations and bond market volatility. No major shift is expected until new CPI and PPI data is released later this month.

Purchase applications were flat to slightly higher. Refinances were unchanged. Holiday slowdown is beginning.

🏘️ Housing, Inventory, and Pricing

Inventory improved slightly nationwide, mostly due to longer days on market rather than an increase in new listings. Prices remain sticky in many Sun Belt metros.

🌵 Arizona Spotlight

Cromford numbers continue to show a seller-leaning market, but buyers are gaining leverage.

• Gilbert CMI: mid-130s
• Chandler CMI: low-140s
• Queen Creek/San Tan: high-120s
• Median prices: $455,000–$475,000
• Inventory slowly rising
• Migration steady

🎯 Quick Takeaway

A stable week with growing buyer leverage and clearer expectations for the season.

🔗Want More Info

Let’s build your holiday buying or selling strategy. Schedule time to chat here: 🔗 https://koalendar.com/e/meet-with-jennifer-patel