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San Mateo 2025 October Market Update

As of early October, 30-year mortgage rates, at about 6.3%, were essentially unchanged from early September (but well down from 7% in early 2025): The Fed’s first 2025 reduction of its benchmark rate, of .25%, had little effect, though consensus opinion is that further cuts are probably coming before the end of the year. Inflation continued to tick up slightly, while stock markets hit new all-time highs. Nationally, consumer confidence remained low, with significant concerns regarding personal finances, employment and inflation – though affluent consumers deeply invested in stock markets were less concerned than low and middle income segments.