10/19/2026
Mortgage rates cooled off slightly last week. ADP employment showed private payrolls increased on a week-to-week basis. Existing home sales and retail sales increased in September.
Mortgage application submissions decreased. Inflation on the CPI index increased in September. Continuing jobless claims decreased, while initial jobless claims increased.
The ADP weekly employment update showed that private payrolls increased by 24,800 for the week ending 10/3, up from 23,800 previously.
Existing home sales increased 1.5% month-over-month in September to a seasonally adjusted annual rate of 3,990,000, exceeding expectations of 3,950,000 and reversing the prior month's 3.2% decline.
Mortgage application submissions slipped 2.7% during the week ending 10/9, following a 4.2% decline the previous week. The seasonally adjusted Purchase Index decreased 4.0%, while the Refinance Index slipped 0.4% from the previous week.
The Consumer Price Index (CPI) increased 0.6% month-over-month in September, matching expectations and accelerating from the prior month's 0.4% increase. Annual inflation rose to 3.7%, above expectations of 3.6% and the previous reading of 3.4%. Core CPI, which excludes food and energy costs, increased 0.3% month-over-month, slightly above the expected 0.2% increase, while annual core inflation rose to 2.6% from 2.4% previously.
Continuing jobless claims decreased to 1,710,000 during the week ending 10/3, matching expectations and slipping from 1,714,000 the previous week. Initial jobless claims increased slightly to 199,000 during the week ending 10/10, matching expectations and rising from 198,000 previously.
Retail sales increased 0.8% month-over-month in September, exceeding expectations for a 0.3% increase but slowing from the prior month's 1.3% gain. Annual retail sales growth rose to 6.29%, compared with 5.56% previously, while core retail sales increased 0.9% month-over-month, above the expected 0.6% increase but below the prior month's 1.4% gain.