Housing Market Update | Week of October 6th
Published: October 6, 2025
Updated: October 6, 2025

Housing Market Update | Week of October 6th

Mortgage rates remained largely unchanged last week, as the government shutdown prevented the release of several jobs reports, including Friday’s BLS report, that could’ve confirmed a rate cut during the October Fed Meeting. The one report we did get was Wednesday’s ADP employment report, which highlights private payroll job creation. This report showed 32,000 jobs eliminated, making it the second consecutive ADP report with negative figures.
Although we’re lacking some crucial economic data, we could see mortgage rates move this week as several members of the Federal Reserve are scheduled to speak during the Community Bank Conference in D.C. We’ll also want to keep an eye on any developments related to the government shutdown. If a resolution is found, we’ll receive our labor reports shortly thereafter, which will likely impact the housing market.

Last Week's Mortgage Rate Recap
Rates Were Steady
Last week was supposed to be jobs week, but the government shutdown prevented the release of our pivotal labor figures. Wednesday’s ADP employment report reported 32,000 jobs lost in September. This is the second consecutive month that ADP has reported job losses, which is especially shocking given that economists had predicted 45,000 jobs would be created in the report. This temporarily brought the 10-year lower, but a lack of more comprehensive data beyond private payrolls prevented a longer-term impact on mortgage rates.

This Week's Mortgage Rate Forecast
Rates Could Be Stagnant
With the shutdown still ongoing, this week is currently looking to be a relatively quiet one in terms of rate movements. We’re continuing to await the end of the government shutdown to receive the jobs data that’s so crucial to the likelihood of another rate cut by the end of the year. While we await that resolution, we’ll also want to keep an eye on the quotes that surface from the Fed members speaking at this week’s Community Bank Conference on Thursday and Friday.
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!