July 21 Market Update Courtesy Envoy Mortgage

Market Spotlight

Week of July 21st, 2025 | #170

What You Need to Know

KEY TAKEAWAY: Despite a week packed with inflation data and political drama, rates stayed calm thanks to improved mortgage spreads.

Last week had the potential to shake things up—between the CPI report and headlines about Jerome Powell’s job security, bonds had plenty of fuel to move. But instead, the market stayed right where it started. Inflation expectations came in lower, consumer sentiment improved slightly, and Friday’s quiet trading confirmed the status quo.

Looking ahead, the calendar is light. We’ll get existing and new home sales, but no major economic events are expected until the early August jobs report. Weekly jobless claims remain solid and should reinforce a steady outlook for now.