Economic indicators

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.

U.S. economic growth accelerated by more than forecast in the second quarter, illustrating demand is holding up under the weight of higher borrowing costs.

The overall Bureau of Labor Statistics number was a tad higher than expected but other indicators point to economic weakness that could lower mortgage rates.

Cook expects three- and six-month inflation rates to continue to move lower on a "bumpy path," with monthly data similar to the "favorable" readings seen in the second half of 2023 for the rest of the year.

Potentially limiting the Federal Reserve's ability to cut rates is the growing view that the economy's so-called neutral rate — a theoretical level of borrowing costs that neither stimulates nor slows growth — is much higher than policymakers are currently projecting. 

A Fannie Mae survey-high 86% of prospective buyers said it was a bad time to buy a home in May.

A pair of metrics that examine competition in the marketplace went in different directions in March, Zillow found.

Mortgage lenders offered more cash-out refinance programs at a time when consumers might be coming to terms with the rate environment.