REAL ESTATE JERKY DAILY
Mortgage Rates Worsen Slightly as Labor Market Softens Again
Ed Parcaut and Mike Kelly cover ADP job growth, mortgage-rate pressure, mortgage applications, refinances, California housing numbers, Stanislaus County closings, oil flow through the Strait of Hormuz, and CFPB oversight. ADP employment came in at 38,000 jobs, the weakest reading in seven months. Mortgage applications were flat, purchase activity was unchanged year over year, and refinance activity was down 19% year over year. Ed and Mike also discuss the 10-year Treasury near 4.798, mortgage pricing worsening by about 4 basis points, California price reductions rising to 41.4%, and Stanislaus County reaching 283 August closings. A fast Real
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