AI and the Future of Work: Perspectives on Job Creation, Remote Work, Reskilling, and More

Redfin warns that the US housing market is cooling due to persistent inflationary pressures and unpredictable market trends. Mortgage rates have rebounded to 6.34%, discouraging homebuyers. Despite a recent 0.25 percentage point rate cut by the Fed, buyer activity remains sluggish, and pending home sales declined 1.3% YoY. Homeowners are listing properties in hopes of lower mortgage rates, but buyer activity remains low.

US mortgage companies are poised to report mixed third-quarter results, with varying expectations for key players in the sector. UBS Securities forecasts better-than-expected bottom-line results for PennyMac Financial Services (PFSI) and loanDepot (LDI), while expecting in-line results for Rocket (RKT) and UWM Holdings (UWMC). PennyMac Mortgage Investment Trust (PMT) is expected to miss Wall Street's earnings views Mortgage Companies Poised For Mixed Quarterly Results, UBS Says^[1].

Origination volume is projected to have gained 4% compared to industry expectations of a 1% drop sequentially. Servicing profitability is expected to remain strong, although seasonally weaker, according to UBS analyst Doug Harter. The brokerage raised its price targets on covered stocks by a median of 14% to factor in a drop in mortgage rates last month and subsequent uptick in refinancing activity Mortgage Companies Poised For Mixed Quarterly Results, UBS Says^[1].

The average 30-year fixed rate in the US fell to 6.26% as of September 18 from 6.50% two weeks ago, according to Freddie Mac data. The September pickup in refinancing applications could cause some volume to close in the fourth quarter, making lock volume a better indicator of the size of the current refi opportunity. UBS forecasts 9% higher sequential volumes in the fourth quarter as the drop in rates in September should lead to increased applications/locks in the third quarter that will likely come through in funded volume in the fourth quarter. The brokerage assumes that mortgage rates will drop by 10 to 30 basis points over the next 12 months Mortgage Companies Poised For Mixed Quarterly Results, UBS Says^[1].

In a separate development, Aster, a decentralized exchange, has announced the Stage 2 airdrop of its $ASTER tokens. The airdrop includes 320,000,000 ASTER tokens for participants who meet eligibility requirements. Users can claim their tokens from October 14 through November 14, 2025. The platform has refunded trading fees and covered referral rebates from its own funds. However, losses from trading will not be reimbursed. Community members are advised that account review and claim verification may take some time Aster Stage 2 Airdrop Under Review After Community Feedback^[2].

In Egypt, a new housing finance proposal could help lower and middle-income groups access affordable homes through state-backed loans with interest rates linked to unit size. The proposal, presented by Tarek Shokry, Head of the Real Estate Development Chamber at the Federation of Egyptian Industries (FEI), offers subsidized loans with interest rates ranging from 8% for homes up to 100 square meters to 12% for larger units PROJECTS: Egyptian industry body proposes low-interest home loans linked to unit size^[3].