Portland Mortgage Market Update — November 26, 2025

Happy Thanksgiving! This one is coming out a bit earlier due to the holiday. Enjoy!

Rates improved on new data this week. The Producer Price Index showed inflations rising .3% in September which was right in line with estimates, and the major reason for the increase was an almost 12% increase in Gasoline Prices. If you strip out food and energy, inflation only rose .1% for the month. This bodes well for a lower upcoming PCE report which will be released on December 5th, right before the Fed meeting on the 9th. ADP also released their weekly data showing 13,500 job losses each week in the 4 weeks leading up to November 8. Between reports showing inflation being more or less tamed and a much weaker labor market, Fed members are starting to come out of the woodwork with a more doveish tone about an upcoming rate cut and mortgage rates have improved.

New 2026 Conforming Loan Limits are Official! FHFA announced yesterday that they are bumping up the conforming loan limit to $832,750 for 2026. We have been offering up to $819K since early October, but will be likely be adjusting upward to this new level as our investors recalibrate.

Things that I am thankful for in no particular order: Family, friends, my health, you if you have read this far into this newsletter, Popeye's pre-cooked Cajun turkey, Deni Avdija, the opportunity to help and serve my clients, the Washington Huskies, and my amazing realtor relationships!