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MarketMinute | New Home Sales Surprised In August

Sep 30
3:55
AM
Category | Markets in a Minute

  • Orders for capital goods increased in August, suggesting businesses remained keen to invest in equipment despite higher interest rates.
  • Consumer confidence rose for a second straight month in September, supported by a resilient labor market and falling gasoline prices.
  • The 10-year Treasury yield topped 4% this week for the first time in more than a decade, signaling that rates may not have peaked yet.

  • Home prices in July were still higher than they were a year ago but cooled significantly from June gains, according to the Case-Shiller Index.
  • Sales of new homes unexpectedly rose almost 29% in August, the fastest pace of sales since March and a break from the recent downturn.
  • Pending home sales fell for the third straight month in August, weighed down by soaring mortgage rates and high home prices.

 

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