• The consumer price index rose 8.5% in July from a year ago but was below expectations, due largely to slumping energy prices.
  • Wholesale prices also fell in July, down 0.5% from the previous month. It was the first wholesale price drop in 2 years.
  • Non-farm payrolls rose 528K in July, and the unemployment rate was 3.5%, easily beating estimates of 258K and 3.6%.


  • Fannie Mae’s Home Purchase Sentiment Index fell 2 points in July to 62.8, its lowest reading since 2011.
  • The total listing count grew by 2.5% in July, easing pressures on buyers. Days on market is still significantly shorter than pre-pandemic.
  • Purchase mortgage applications fell 1% for the week and 19% from a year ago. Refi apps rose 4% but were down 82% from last year.