Economic indicators

A strong economy drove mortgage rates higher in the past week but it's still an advantageous market for consumers in some ways, according to Freddie Mac.

The higher-than-expected inflation figures will likely amplify the debate whether the Federal Reserve will opt for a small interest-rate cut next month or pause.

Stronger than expected numbers for overall U.S. employment additions have diminished lender hopes for steeper rate drops, and industry hiring has been tepid.

While consumers still see a low chance of a recession in the next year, there was a "slight uptick" in the share that believes the economy is already in a downturn.

Lower inflation doesn't equate to lower prices, and costs of living may still be higher than pre-pandemic, especially rents. But the varying cooldown could help.

While the shelter-related increase won't deter the Fed from cutting interest rates, it reduces the chance of an outsize reduction.

Other estimates suggest nonbank mortgage employment grew in July as the industry cautiously added staff to handle incremental growth in demand for loans.

She spoke hours after a private payroll survey showed U.S. companies added the fewest jobs since the start of 2021 in August.

Gen Zers had the highest rates of mortgage delinquencies that were up to 89 days past due.

Underlying U.S. inflation eased for a fourth month on an annual basis in July, keeping the Federal Reserve on track to lower interest rates next month.