MarketMinute | Is For-Sale Inventory On The Rise?
The service industry picked up in August for the 2nd straight month, reinforcing the view that the economy is not yet in a recession. Last week’s jobless claims hit a 3-month low, underscoring the robustness of the labor market despite the Fed’s rate increases. Comments from multiple Fed officials showed they remain optimistic about the economy while still committed to battling inflation. With rates reaching highs last seen in June, purchase mortgage apps were down slightly for the week and 23% lower than a year...READ MORE