The ‘housing market appears to be stuck,’ as mortgage rates stay over 7%
The 30-year mortgage rate is averaging 7.12%, Freddie Mac said in its latest weekly survey.
Economic Report
U.S. jobless claims fall to 216,000, lowest level since February
Initial jobless claims fell by 13,000 to 216,000 in the week ended Sept. 2, the Labor Department said Thursday. That's the lowest level since February.
U.S. unit labor costs higher in second quarter than initially thought
Unit-labor costs, a gauge of wage inflation, rose at a revised 2.2% annual rate in the second quarter, up from the initial estimate of a 1.6% pace, the U.S. Labor Department said.
Last burst of leisure spending leads to modest U.S. growth in summer months, Fed’s Beige Book says
The U.S. economy grew at a modest pace in July and August, boosted by leisure spending, according to the Fed's Beige Book report released Wednesday.
Growth in U.S. service sector accelerates in August, ISM survey shows
The ISM services PMI registered 54.5 in August, up from the prior month's reading of 52.7%. This is the eighth straight reading in expansion territory.
