Blog


 

  • Job openings fell in June, but steady hiring and low layoffs suggest the labor market remains solid and is in "slow hire, slow fire" mode.

  • According to payroll processor ADP, private-company hiring slowed considerably in July, with primary gains in healthcare and education.

  • The July ISM manufacturing report showed higher than expected growth, logging its fastest pace since May 2022.

 

Housing News

  • ICE's mid-month home price index reports annual home price growth accelerated at 1.7% in July, the strongest in 15 months.

  • The number of "shadow homeowners," adults who still live with family but have homebuyer attributes, grew 30% over the last 35 years, per MBA.

  • Mortgage application volume dropped last week as rates moved higher. Purchase apps fell 4% for the week and 3% year over year.

Market Minute Report - Mortgage News