Housing Market Update | Week of October 13th
Published: October 13, 2025
Updated: October 13, 2025

Housing Market Update | Week of October 13th

Mortgage rates were flat last week as the ongoing government shutdown continued to prevent the release of market-moving economic data. We saw a slight dip heading into a 3-day weekend on Friday when President Trump announced plans to impose an additional 100% tariff on imports from China, but it’s difficult for rates to go lower without those reports.
What could help them go lower, though, is insight from voting members of the Federal Reserve, especially Fed Chairman Jerome Powell. And we’ll get exactly that tomorrow at noon when he speaks at a conference in Philadelphia.
Markets currently expect a 0.25% cut to the fed funds rate during the October Fed Meeting, and if Powell more or less confirms that cut (just like he did in late August before the September Fed Meeting), we could see mortgage rates start to drop as we inch closer to that meeting on October 29.

Last Week's Mortgage Rate Recap
Rates Were Steady
Due to the ongoing government shutdown, we didn’t get any of our market-moving economic data last week. However, on Friday, President Trump announced plans to impose an additional 100% tariff on imports from China.
This sent the 10-year much lower heading into the 3-day weekend and should continue to impact markets when they reopen tomorrow. Mortgage rates dropped incrementally, but there isn’t much room for further decrease without our essential jobs and inflation reports.

This Week's Mortgage Rate Forecast
Rates Could Be Volatile
As the government shutdown continues, so too does the delay of pivotal economic reports. However, unlike last week, there are a few things that could shift the market in the week ahead. Our usual monthly economic data has been postponed due to the government shutdown, but the White House ordered BLS workers to return so the CPI inflation report can be released this month. It’s currently set to be released next Friday, October 24th.
The biggest market mover this week could come tomorrow when Fed Chair Jerome Powell speaks at a conference in Philadelphia. It was his speech at Jackson Hole in late August that signaled an upcoming Fed rate cut in September and sent mortgage rates lower. Markets currently expect another 0.25% rate cut in the October Fed Meeting.
If Powell confirms these expectations, we could see similar mortgage rate activity to what we saw in late August and early September, with rates dropping heading into the meeting and bouncing slightly higher the week after.
Of course, Fed policy is data dependent, and without our usual labor and inflation data, the Fed could always revert to “wait and see” mode. So, if any of our buyers see a rate that they like, it’d be best to lock it to help them avoid any potential volatility.
If you have any questions or would like updates as we receive new developments on the government shutdown, follow this link to connect with a mortgage expert near you!