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  • Retail sales showed signs of slowing in August, as higher gasoline prices limited consumers’ discretionary spending.
  • Gas prices fed the year's biggest monthly rise in consumer inflation, though the annual increase was the smallest in almost 2 years.
  • Wholesale inflation also rose in August, more than expected. Rising inflation can lead to higher mortgage rates.

Housing News

 

  • Black Knight reports P&I payments topped $2K for more than half of new July mortgages and over $3K for almost a quarter.
  • Redfin found return-to-office mandates are behind the decision to move for 10.1% of soon-to-be home sellers.
  • Purchase mortgage apps fell 27% from a year ago, though they were up 1% for the week. Overall apps fell to the lowest level since 1996. 

Market Minute Report - Mortgage News