If I had to guess, I would say you haven’t been rejected, but they want to see if there are better applicants before they offer you an interview invite. As for what your chances are? It’s hard to say. It all depends on who else applied to that particular school, and if they get enough interviews from other schools that they would want to decline an interview invite at that school. I would keep my fingers crossed, but don’t hold your breath for an interview. If one does come it might be late or even post December.
its funny because I got an email from Iowa saying my application has been deferred. In the email it says “this is not a rejection, it only means we will put yours aside as we continue to look at other applications.” And what do you know, several students post questions asking if it is a soft rejection. Although I have heard that no student that has gotten deferred have actually matriculated..