Inside Lending | Market Snapshot for the Week of October 20, 2025

October 20, 2025/
  QUOTE OF THE WEEK
“Sometimes you lie in bed at night and you don’t have a single thing to worry about. That always worries me!”—Charlie Brown, Peanuts character created by Charles M. Schultz
  NATIONAL MARKET UPDATE
  Housing Starts and Building Permits were off in September, as builders focused on completions. Single-family completions came in nearly 7% higher than July, and almost 6% ahead of a year ago. And the majority of builders are optimistic. This month’s National Association of Home Builders sentiment index showed future sales expectations jumped nine points to 54, indicating the majority of builders are upbeat. Rate locks on purchase mortgages outperformed in September, up 6% for the month and 9% year-over-year, as the ICE Mortgage Monitor indicated homebuyer affordability hit its best level in almost three years.
  REVIEW OF LAST WEEK
  SOLID REBOUND… After the prior week’s selloff, the stock market staged a convincing comeback, to finish on Friday with all three major indexes delivering solid gains for the week. With the government shutdown delaying key economic data, traders focused on Q3 corporate earnings reports in which 85% of the companies reporting thus far have posted positive earnings surprises. Even China trade concerns were allayed with President Trump’s Truth Social post, “Don’t worry about China, it will all be fine,” and the news he and President Xi had a lengthy phone conversation and will soon meet. The week ended with the Dow UP 1.6%, to 46,191; the S&P 500 UP 1.7%, to 6,664; and the Nasdaq UP 2.1%, to 22,680. Bonds also gained nicely overall, the 30-Year UMBS 5.0% UP 96 basis points, to 100.04.The national average 30-year fixed mortgage rate dropped again, as Freddie Mac’s weekly survey noted “a more favorable environment for those looking to buy a home.” Remember, mortgage rates can be extremely volatile, so check with your mortgage professional for up-to-the-minute information.  DID YOU KNOW… The latest data reveals mortgage payments on a median-priced home are now $283 lower than they were just a few months ago. That adds up to a savings of almost $3,400 a year.
  REVIEW OF LAST WEEK
  SOLID REBOUND… After the prior week’s selloff, the stock market staged a convincing comeback, to finish on Friday with all three major indexes delivering solid gains for the week. With the government shutdown delaying key economic data, traders focused on Q3 corporate earnings reports in which 85% of the companies reporting thus far have posted positive earnings surprises. Even China trade concerns were allayed with President Trump’s Truth Social post, “Don’t worry about China, it will all be fine,” and the news he and President Xi had a lengthy phone conversation and will soon meet. The week ended with the Dow UP 1.6%, to 46,191; the S&P 500 UP 1.7%, to 6,664; and the Nasdaq UP 2.1%, to 22,680. Bonds also gained nicely overall, the 30-Year UMBS 5.0% UP 96 basis points, to 100.04.The national average 30-year fixed mortgage rate dropped again, as Freddie Mac’s weekly survey noted “a more favorable environment for those looking to buy a home.” Remember, mortgage rates can be extremely volatile, so check with your mortgage professional for up-to-the-minute information.  DID YOU KNOW… The latest data reveals mortgage payments on a median-priced home are now $283 lower than they were just a few months ago. That adds up to a savings of almost $3,400 a year.
  FEDERAL RESERVE WATCH
  Forecasting Federal Reserve policy changes in coming months. Fed watchers are now forecasting a quarter percent rate cut at each of the next three FOMC meetings. Note: In the lower chart, the 99.0% probability of change means there’s only a 1.0% probability the rate will stay the same. Current rate is 4.00%-4.25%.
AFTER FOMC MEETING ON:CONSENSUS
Oct 293.75%-4.00%
Dec 103.50%-3.75%
Jan 283.25%-3.50%

Probability of change from current policy:

AFTER FOMC MEETING ON:CONSENSUS
Oct 29 99.0%
Dec 10100.0%
Jan 28 53.9%
  BUSINESS TIP OF THE WEEK
If you want different results, you have to do things differently. If you honestly ask yourself what you could do to improve your business, you probably know what it is. As soon as you choose to get past your fears and take action, things will start to move in the direction you want.
The Jim Passi Team at Citywide Home Loans proudly serves Illinois, Wisconsin, Michigan, Indiana, Georgia and Flordia. If you are looking to buy a home or refinance, we have you covered. Apply Now to get started.
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Jim Passi - Citiwide Home Loans

Jim Passi
Regional Manager
NMLS# 158000

1121 E. Main Street, Suite 121
St. Charles, IL 60174
Mobile: 847-899-1813
Email: jim.passi@alamedamortgage.com

Email Me

This testimony is from my

This testimony is from my experience being a first-time home buyer going through the process of purchasing a home with Jim Passi from City Wide home loans. Let me just start off by saying how reliable, courteous, genuine, informational and hardworking Jim Passi is. Jim is not like a lot of other loan officers. My house I purchased for under 160 grand, not a huge real estate deal. From experience with other loan officers they don’t want to deal with a smaller purchase or work on a loan that might be difficult. With our credit score being low and work history not at expectations I was almost positive I would have to wait a year or maybe two years before being approved and close on a house. I definitely had doubts that I would be a home owner, Jim worked hard and stayed in contact with us updating us almost every day of the process, even during evening hours and weekends during the stressful underwriting process. Communication is key and I give Jim a 5-star rating with that. I consider myself an average blue-collar hard-working guy that has experienced hardships during life. Jim was never turned away by the hardships, he was understanding of them and I feel like it made him work even harder to make this process a success.

I just successfully closed on a house with my fiancé. Jim did what I thought was impossible. Again, with our credit score being under 600 and spotty work history it was a difficult process that became a success with a lot of hard work. Jim also got me the best interest rate that was available. He was constantly checking the market and keeping me informed on what was available. He wanted me to take my time and make sure what rate was in our best interest. Jim has a cretin genuine care for his clients and speaking with him so much during this process I know he truly cares and wants to help people. Even after we closed Jim called and congratulated us with excitement. Jim made a dream come true for us that I was sure we would have to wait for. I’m just going to say if he made my dream come true with all the problems I had he can make a lot of others come true for any one in a similar situation. Jim Passi is highly recommended.

Tim A.