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Mission Chronicle Newsletter Nov 10, 2025

11/10/2025

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Mortgage rates ticked upward last week as the government shutdown became the longest in history.With limited economic data to digest, experts are relying on less comprehensive data from privatefirms. The ISM indices revealed a split, with the manufacturing index dropping further intocontraction territory, while the services index pushed higher into expansion territory. We are awarethat many analysts have expressed concerns about the labor market, and some private labor marketdata has been concerning. Challenger, Gray, and Christmas’ monthly layoff report tallied 153,074 jobreductions announced in October, the largest number of layoffs announced in October since 2003. Ona brighter note, ADP noted a gain of 42,000 positions.   This week could see the end of the shutdown, which would restart the flow of economic data, alongwith critical benefits such as SNAP. Mortgage rates may rise as the market experiences relief over theend of the shutdown, but as data resumes, the trend could begin to shift either way.     Mortgage Rates and Economic Snapshot
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