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  • Jobless claims fell to their lowest level since July, while continuing claims hit a 3-year low, signaling a healthy labor market.

  • Job openings dropped more than expected in August, but layoffs also fell, another signal of a solid labor market.

  • Second-quarter economic growth was revised higher to 2.2%. Consumer spending and business investment helped offset higher gas prices.

Housing News

  • ICE's September mid-month Home Price Index shows 1.41% annual home price growth, down modestly from August’s 1.44% gain.

  • Mortgage rates continued to climb for the 6th straight week, reaching their highest level since November 2023.

  • Purchase mortgage apps fell 4% last week and were 14% lower than a year ago, as buyers faced both rising rates and elevated home prices.

Market Minute Report - Mortgage News