July 28, 2025 Weekly Update courtesy of Envoy Mortgage
Written by Andrew Schmidt
Market Spotlight
Week of July 28th, 2025 | #171
What You Need to Know
Rate Update
KEY TAKEAWAY: Rates held steady last week, but a storm of economic data ahead—including Jobs Week and a Fed meeting—could quickly change that.
Last week, mortgage rates were essentially flat, with the 30-year fixed holding at 6.8%, according to Mortgage News Daily. Bond markets drifted sideways despite some mild volatility from trade headlines. Durable goods orders came in weaker than expected (-9.3% vs. -10.8% forecast), which helped temper fears of economic overheating.
This week, we’re entering a high-impact stretch: four labor reports plus the Federal Reserve’s latest meeting. The Fed is watching private payrolls and wage growth closely, especially after recent jobless claims showed improvement. Friday’s jobs report will be the main event, and the language in the Fed press conference could steer markets significantly.
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