- The Fed's favorite inflation gauge rose 3.6% to a 30-year high in August. Inflation will typically pressure interest and mortgage rates higher.
- Stock market holdings made up about half of the $109.2 trillion of household-owned financial assets through the second quarter of 2021, reaching a 70-year high.
- Initial jobless claims fell last week to 326k, the lowest in a month, pointing to ongoing improvement in the labor market. Continuing claims fell to 2.7 million.
- The housing market has been fiercely competitive over the last few months, but housing analysts predict buyers who keep getting shut out may soon find better luck.
- Bathroom renovations have become popular in the last year, particularly upgrades with spa-like features such as rainfall shower heads, dual showers, and whirlpool baths.
- Purchase mortgage applications declined 2% for the week and were 13% lower than the same week one year ago. Refinance demand fell to the lowest level in three months.
