Mortgage rates stayed flat in the waning days of the government shutdown

Core Insights - Mortgage rates remained relatively stable this week, with the average 30-year fixed-rate mortgage at 6.24%, slightly up from 6.22% the previous week, while 15-year fixed-rate mortgages averaged 5.49%, down from 5.5% [1][2] - The ongoing government shutdown delayed the release of key economic data, including the nonfarm payrolls report, which typically influences bond yields and mortgage rates [1][4] - Mortgage applications for purchasing new homes increased by 6% last week, while refinancing applications decreased by 3% [2] Economic Context - The 10-year Treasury yield has stabilized, lacking immediate catalysts for significant movement in either direction [2] - The return of government workers is expected to lead to the release of delayed economic data, which may increase mortgage rate volatility in the coming weeks [4] - Partial release of October jobs data is anticipated, but it will not include the unemployment rate, prompting potential reassessment of labor market and inflation outlooks [5]