Weekly Market Commentary (For the Week Ending 10/24/25)

Bob Garczewski • October 24, 2025

Rates Down This Week, But NO Changes to Benefit Amounts!

The 10YR CMT continued is downward move this week, so we will see a DECREASE in the 10YR CMT for next week. But, this will result in NO CHANGE TO BENEFIT AMOUNTS next week!!

 

The 10YR CMT currently sits at 4.02% for this week, and we will see a decrease of 3-4 bps in the Expected Rate next week! This will have NO IMPACT on the Expected Rate and will result in the SAME Benefit Amounts next week!

 

Good news today as monthly CPI numbers came in today lower than expected. Estimates had annual CPI numbers coming in at 3.1%, but actual figures came in at 3.0% and core CPI ticked down to 3.0% as well. Analysts believe that these readings will keep the FED on track to cut interest rates again next week, marking the second straight month of cuts as the FED looks to support a further softening labor market.

 

In other news, the Federal Shutdown continues as we are now on day 24 of the shutdown with no end in sight as the two sides of the aisle haven’t been able to come to any agreements on a continuing resolution. Most agencies are still operating, however on skeleton crews, and most federal employees continue to go without paychecks as part of the shutdown. Most basic services from the government do remain operational at this time.

 

Trade tensions do remain as more tariffs are put into place, and there is a focus on relations and a possible meeting with China that will impact things moving forward. One tailwind for spending looming is the possibility of higher tax refunds for most Americans next year as a result of the One Big Beautiful Bill tax overhaul.

 

This week, the 10YR CMT Index is 4.02%. Here is what the 10YR CMT has done this week, so we will see a DECREASE in the 10YR CMT for next week. This decrease WILL HAVE NO IMPACT on Benefit Amounts!

 

10YR CMT               

10/20/25     10/21/25    10/22/25    10/23/25     10/24/25 (Intraday)

   4.00            3.98          3.97          4.01             3.99     

 

Based on the data from this week, we will see a DECREASE in the Expected Rate of 3-4 bps for next week. This DECREASE will have NO IMPACT on Benefit Amounts for next week. So, if you have applications or closings soon, there will be NO DIFFERENCE IN BENEFIT AMOUNTS FOR YOUR CUSTOMERS IF YOU TAKE APPLICATIONS NOW OR WAIT UNTIL NEXT WEEK TO APP OR CLOSE!  As usual, new rates for next week will take effect on Tuesday, 10/28/25 and beyond! As always, we are providing this data to you, so that YOU can continue to make the decisions that best suit your business based on the information you have!

 

If you have questions about this, please let me know! Thanks for the partnership and Good Selling!!!


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As most of you know by now, the Federal Government was shut down effective October 1 and will remain shut down until Congress comes to agreement to continue funding the government. We will keep you updated as we learn and hear more here at SimpleReverse, but in the meantime, what does this mean for the Reverse Mortgage industry? 1. First, we want to assure you that SimpleReverse plans to continue operating “business as usual!” We should not see a major impact to our business, assuming this shutdown is resolved quickly. 2. However, you can expect to see the following pieces of our business impacted during a shutdown: a. FHA Case Assignments & Case Transfers – FHA Connection will continue functioning to issue case numbers since this is an automated system. (However, if there are technical issues with the system or direct FHA involvement is required, expect it to take longer to get them addressed/fixed.) b. FHA Single Unit Condo Approvals – This process will be delayed during a shutdown. Expect longer turn times for SUA Condo Approvals. c. IRS Tax Transcripts – If Tax Transcripts are required as part of a loan approval, expect delays in receipt of these transcripts. d. SSA-89 Requests – Verification of SSNs through this process could be delayed during a shutdown. e. Change Requests for FEMA Flood Maps – If necessary, this process could be delayed during a shutdown. Expect longer turn times for flood map change requests. We will continue to monitor the shutdown of the Federal Government and the potential impacts to our business should it continue for a lengthy time period and we will keep you abreast of any changes or additional impacts that we could experience as a result.  As always, thank you for your continued business and partnership. If you have any questions, please don’t hesitate to reach out.

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