MarketMinute | Manufacturing expanded and home prices rose


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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.
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According to payroll processor ADP, private-company hiring slowed considerably in July, with primary gains in healthcare and education.
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The July ISM manufacturing report showed higher than expected growth, logging its fastest pace since May 2022.
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ICE's mid-month home price index reports annual home price growth accelerated at 1.7% in July, the strongest in 15 months.
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The number of "shadow homeowners," adults who still live with family but have homebuyer attributes, grew 30% over the last 35 years, per MBA.
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Mortgage application volume dropped last week as rates moved higher. Purchase apps fell 4% for the week and 3% year over year.




