From the Desk - Economic Commentary
Brandon Casey, Member Strategies - 11/12/2025
U.S. stocks are mixed Wednesday morning as volatility remained in the market this month. Both the DJIA and S&P 500 are higher, while the Nasdaq opened higher but has since turned lower. The DJIA hit a new record high this morning.
Looking at economic data today, MBA mortgage applications increased 0.6% last week. Purchase applications were up 6%, while refinance activity fell 3%. The report also showed that the average interest rate of a 30-year conforming mortgage increased three basis points to 6.34%.
Yesterday, the NFIB Small Business Optimism Index edged lower to a reading of 98.2 in October. The index remained just above its 52-year average. The Uncertainty Index fell 12 points to a reading of 88, the lowest reading of the year. Finding qualified workers remained the biggest issue amongst small business owners.
Subscribe to our daily From the Desk newsletter to get economic commentaries and updated advance rates sent directly to your inbox.
Subscribe Here