ADP: September private job growth jumped to 230,000
ADP’s employment report showed 230,000 new private jobs created in September, which compares to 168,000 in August and just 94,000 last September.
Service sector index jumps 3.1 points in September
The NMI® registered 61.6 percent, which is 3.1 percentage points higher than the August reading of 58.5 percent. The non-manufacturing sector has had two consecutive months of strong growth since the ‘cooling off’ in July. Overall, respondents remain positive about business conditions and the current and future economy. Concerns remain about capacity, logistics and the uncertainty with global trade.
Mortgage applications and rates mostly flat in weekly update
The Market Composite Index remained unchanged on a seasonally adjusted basis from one week earlier, with purchase loans up 0.1 percent and refinances falling 0.1 percent. The average contract interest rate for 30-year fixed-rate mortgages with decreased to 4.96 percent.