Limited trading but rates inch lower

Happy Friday from Local Mortgage!

A short trading week with the holidays but we did improve just a bit for the week. We will end the week at 5.875% with .25% lender credit towards closing costs.  We are one or two good days away from moving down to 5.75%, a mark that we haven’t really seen in the last 3 years other than very, very briefly in September of 2024.  

With the holiday shortened week, trading volume was very limited around this week’s news. Tuesday’s 3^rd quarter GDP report was stronger than expected but didn’t have much of an impact, one because of the holidays and two, the 3^rd quarter is considered ancient history by most investors. Consumer confidence weakened for the fifth consecutive month as Americans worry about jobs and higher prices.  

Next week will be another slow week with shortened trading days, but things should progressively pick up as 2026 gets underway.

Have a great holiday season and as always, thank you for reading.