Monthly Economic Commentary and Indicators

for Mortgage Industry Third Party Origination Professionals

September 2022

Key Economic Data and Events in August 2022

• Interest Rates: The 10-Year Treasury yield rose to 3.26% (Sep 01) from 2.60% (Aug 01).
• Housing: Existing Home Sales fell 5.9%, New Home Sales fell 12.6%, and Pending Home Sales fell 1.0%. Home Price appreciation is rapidly slowing down.
• Labor: The Economy created 315,000 New Jobs in August and 528,000 in July. The Unemployment Rate rose to 3.7% in Aug and 3.5% in July. Wages increased 5.2% YoY.
• Inflation: CPI up 1.3% (+8.5% YoY), PPI down 0.5 (+7.6% YoY).
• The Economy: US GDP contracted at a 0.6% annualized rate in 2Q2022, up 1.7% YoY.
• Consumers: Retail Sales was unchanged in July while Consumer Confidence rose.
• Stock Markets declined over 4.0% in August: Dow – 4.2%, S&P – 4.2%, Nasdaq – 4.6%.
• Oil prices fell to $89/Barrel (Aug 31) from $104 (Jul 29). Natural Gas prices rose to $9.16/MMBtu (Aug 31) from $8.23/MMBtu (Jul 29).

Read the full versions of this month’s “Economic Commentary and Indicators” and “Economic Calendar” using the links below.

This Economic Commentary intro and full version PDF are provided by GMFS and written by Mortgage Elements to be a succinct summary of the key Economic Indicators and Economic Data that influence the Mortgage and Real Estate Industries. It is written for Mortgage, Realtor and Real Estate Professionals that need to stay current on Economic Information but don’t have hours to research and analyze Economic Data. © Copyright 2018 Mortgage Elements Inc, All Rights reserved.