Economic indicators

More borrowers who locked their loans with higher financing costs could refinance and buyers may come in at the margin, former Fannie Mae economist said.

The Bureau of Labor Statistics reported that the economy added 22,000 jobs in August, raising the unemployment rate to 4.3% and providing additional cover for the Federal Reserve to lower interest rates in September.

The removal of the commissioner of the Bureau of Labor Statistics is unlikely to change government data practices in the near term, experts say, but the perception of interference will have a big effect on the credibility of government economic metrics going forward.

Home prices rose at the slowest pace in nearly two years, signaling a deeper shift as concerns about the economy and mortgage rates dampen consumer demand

Stocks have swung wildly on Pulte's comments as he opines on everything from credit score pricing, to cryptocurrencies as mortgage assets, and even the job security of Federal Reserve Chair Jerome Powell.

Fresh US jobs figures took pressure off the Federal Reserve to consider an interest-rate cut later this month, likely leaving the central bank on hold at least until the fall.

Nonbank payrolls rose incrementally during the homebuying season as home-loan borrowing costs trended lower and a housing regulator sought to influence Fed policy.

The Federal Reserve's preferred measure of inflation moved further from its 2% target, underscoring the central bank's reluctance to cut rates.

Consumer spending and exports fell slightly in the latest estimate, leading to a downward revision. Imports, which dragged down overall output during the first three months of the year, also came in smaller.

However, some aspects of the latest employment statistics from the Bureau of Labor Statistics point to gradual weakening in the economy.