10/06/2026
Market Recap — CMG Home Loans | 30-Yr Jumbo 7.70%
â—Ľ The FHFA House Price Index showed home prices rose 0.3% month-over-month in July, above expectations for a 0.1% increase and up from an unchanged reading in the prior month, while prices increased 2.6% year-over-year compared with 2.3% previously.
â—Ľ The S&P CoreLogic Case-Shiller 20-City Home Price Index rose 2.5% year-over-year in July, above expectations of 2.2% and the prior 2.2% increase.
â—Ľ The Consumer Confidence Index slipped to 81.9 in September, below expectations of 89.2 and down from 88.6 previously.
â—Ľ Job openings on the Job Openings and Labor Turnover Survey (JOLTS) fell to 7,079,000 in August, below expectations of 7,230,000 and the prior level of 7,335,000.
â—Ľ Mortgage application submissions fell 6.0% during the week ending 9/25. The Purchase Index decreased 4.3% from the previous week, while the Refinance Index fell 8.7%.
â—Ľ The ADP Employment Report showed private payrolls increased by 90,000 in September, above expectations for 73,000 and up from 36,000 in August.
â—Ľ Second-quarter GDP increased at a 2.2% annualized rate, above expectations of 1.5% and slightly higher than the prior 2.1% estimate.
â—Ľ Personal income rose 0.2% month-over-month in August, below expectations of 0.5% and the prior 0.3% increase, while consumer spending jumped 0.9%, above expectations of 0.8% and up from 0.1% previously. The core PCE price index increased 0.2% month-over-month, below expectations of 0.3% and up from 0.1%, while
the annual rate held at 3.0%, below expectations of 3.3%.
â—Ľ Initial jobless claims slipped to 197,000, below expectations of 201,000 and the prior level of 198,000, for the week ending 9/26. Continuing jobless claims declined to 1,701,000, below expectations of 1,730,000 and the prior level of 1,712,000, for the week ending 9/19.
â—Ľ U.S. construction spending rose 0.9% month-over-month in August, above expectations for an unchanged reading and up from a 0.1% increase previously.
â—Ľ The September employment situation came in softer than expected. Nonfarm payrolls increased by 29,000, below expectations of 89,000 and the prior increase of 133,000, while private payrolls rose by 46,000 versus 85,000 expected and 89,000 previously. Manufacturing payrolls increased by 9,000, below expectations of 10,000 and the prior 15,000 increase, while government payrolls declined by 17,000 after rising by 44,000 previously. The unemployment rate increased to 4.2%, above expectations and the prior rate of 4.1%, while the participation rate rose to 61.8% from 61.6%. Average weekly hours increased to 34.4 from 34.4 previously and came in above expectations of 34.3, while average hourly earnings rose 0.1% month-over-month and 3.0% year-over-year, below expectations of 0.3% and 3.2%, respectively.
