November 17, 2025 Market Update Courtesy of Envoy Mortgage

Market Spotlight

Week of November 17th, 2025 | #187

KEY TAKEAWAY: Rates ticked up after the government reopened and Fed officials signaled a tougher stance on inflation—but we’re still trading inside a low, stable two-month range.


Mortgage rates moved slightly higher this week as markets priced out the economic drag of a prolonged shutdown and reacted to a surprisingly hawkish set of Fed speeches. With officials downplaying labor-market weakness and questioning a December cut, long-term yields pushed toward the top of their recent band.


Even so, this isn’t a trend change. Rates remain anchored near 6.3%–6.4%—well below the highs of the past two years—and are still highly sensitive to incoming data. Now that the government has reopened, markets are waiting for a revised economic release schedule that could create new volatility ahead of the mid-December Fed meeting.