Weekly Update Courtesy of Envoy Mortgage

Market Spotlight

Week of June 30th, 2025 | #167

What You Need to Know

Key Takeaway: Inflation ticked up slightly, but rates still dipped. Now all eyes are on jobs.

Last week, the Fed’s preferred inflation gauge—Personal Consumption Expenditures (PCE)—came in just a touch hotter than expected. But the market took it in stride, and rates actually fell slightly by week’s end, thanks to easing global tensions.

This week is a bit quieter with the holiday, but Friday’s jobs report could shake things up. The Fed has been clear: they need to see some softening in employment before they’ll feel confident cutting rates.

For now, we’re still in a holding pattern. Rates are staying steady, but one strong—or weak—jobs number could shift momentum quickly.