The week was relatively light following the release of the prior inflation data and the FOMC rate decision. The Federal Reserve decided to keep its overnight borrowing rate unchanged and has indicated no plans to make changes in the near term.
Many members of the Federal Reserve Board continue to watch economic conditions closely, as inflation remains elevated across many sectors and could warrant further policy action if price pressures persist.
FOMC Rate Decision
The Federal Open Market Committee voted unanimously to keep its benchmark overnight borrowing rate anchored in a range of 3.5%-3.75%. The federal funds rate has held there since the central bank lowered rates by three-quarters of a percentage point in the latter part of 2025.
Primary Mortgage Market Survey Index
- 15-Year FRM rates saw a decrease of -0.04%, bringing the current rate to 5.81%.
- 30-Year FRM rates saw a decrease of -0.05%, bringing the current rate to 6.47%.
MND Rate Index
- 30-Year FHA rates saw an increase of 0.03%, with current rate at 6.15%.
- 30-Year VA rates saw an increase of 0.03%, with current rate at 6.17%.
Jobless Claims
Initial Claims were reported to be 226,000 compared to the expected claims of 225,000. The previous week landed at 230,000.
What’s Ahead
PCE Index inflation data, personal income and spending, and consumer sentiment are headlining next week’s release data.