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MarketMinute | What's the deal with homeowners insurance these days?
Jul 7
5:42
AM
Category |
Markets in a Minute
Manufacturing contracted for an 8th month in June, slipping to the weakest level in 3 years.
Payroll company ADP reports businesses added the most jobs in a year in June, underscoring the ongoing strength of the labor market.
The service sector expanded in June at its fastest pace in 4 months, pointing to a resilient economy.
Mortgage applications dropped to the lowest level in a month. Purchase apps fell 5% for the week and 22% year over year.
Homeowners insurance rates are soaring. Some companies are pulling out of states with high losses from natural disasters, including CA and FL.
Pending home sales fell in May to the lowest level in 5 months. The chronic shortage of houses on the market weighed on activity.
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