Week in review: September 25, 2026
7 releases this week ending September 25, 2026: Initial claims were 197,000 in the week ended September 19; August new-home sales were 684,000; the 30-year mortgage averaged 7.03 percent; Seasonally adjusted M2 rose to $23,342.8 billion in August; and 4 more. 38 figures below, each with the source it came from and whether it was found there.
Initial claims were 197,000 in the week ended September 19
The Labor Department's advance figure for seasonally adjusted initial unemployment insurance claims was 197,000 in the week ending September 19, a decrease of 1,000 from the prior week's revised level of 198,000. That prior week was revised up by 2,000 from 196,000. The four-week moving average was 202,250, down 1,750 from a revised 204,000. Seasonally adjusted insured unemployment was 1,719,000 in the week ending September 12 after 1,717,000. The week's labour print is a claims report, not a payrolls survey; claims stayed near the prior week after last week's FOMC increase.
- Initial jobless claims, seasonally adjusted
- 197,000
- Four-week moving average of initial claims
- 202,250
- Continuing claims, seasonally adjusted
- 1,719,000
Source: Unemployment Insurance Weekly Claims Report — U.S. Department of Labor, Employment and Training Administration. Also: Initial Claims (ICSA).
all 3 figures found at the source
- found Initial jobless claims, seasonally adjusted = 197,000 — via FRED ICSA
- found Four-week moving average of initial claims = 202,250 — via FRED IC4WSA
- found Continuing claims, seasonally adjusted = 1,719,000 — via FRED CCSA
August new-home sales were 684,000; the 30-year mortgage averaged 7.03 percent
The Census Bureau and HUD said sales of new single-family houses in August were at a seasonally adjusted annual rate of 684,000, 6.4 percent above the revised July rate of 643,000 and 2.0 percent below August 2025. New houses for sale were 483,000, a 8.5-month supply after 9.0 months in July. The median sales price was 393,700 dollars after 392,200 dollars in July. Freddie Mac's September 24 Primary Mortgage Market Survey put the 30-year fixed-rate mortgage at 7.03 percent, up from 6.95 percent on September 17 and 6.30 percent a year earlier. The 15-year averaged 6.42 percent after 6.26 percent. Mortgage rates moved with the Treasury curve after last week's funds-rate increase; the housing prints are quantities and prices, not a verdict on the hike.
- New single-family houses sold, seasonally adjusted annual rate
- 684,000
- New single-family houses sold, monthly change
- 6.4%
- New single-family houses sold, 12-month change
- -2%
- New houses for sale
- 483,000
- Months supply of new houses
- 8.5 months
- Median sales price of new houses sold
- $393,700
- 30-year fixed-rate mortgage
- 7.03%
- 15-year fixed-rate mortgage
- 6.42%
Source: Monthly New Residential Sales, August 2026 — U.S. Census Bureau and U.S. Department of Housing and Urban Development. Also: Primary Mortgage Market Survey, September 24, 2026.
all 8 figures found at the source
- found New single-family houses sold, seasonally adjusted annual rate = 684,000 — at U.S. Census Bureau and U.S. Department of Housing and Urban Development
- found New single-family houses sold, monthly change = 6.4% — at U.S. Census Bureau and U.S. Department of Housing and Urban Development
- found New single-family houses sold, 12-month change = -2% — at U.S. Census Bureau and U.S. Department of Housing and Urban Development
- found New houses for sale = 483,000 — at U.S. Census Bureau and U.S. Department of Housing and Urban Development
- found Months supply of new houses = 8.5 months — at U.S. Census Bureau and U.S. Department of Housing and Urban Development
- found Median sales price of new houses sold = $393,700 — at U.S. Census Bureau and U.S. Department of Housing and Urban Development
- found 30-year fixed-rate mortgage = 7.03% — via FRED MORTGAGE30US
- found 15-year fixed-rate mortgage = 6.42% — at U.S. Census Bureau and U.S. Department of Housing and Urban Development
Seasonally adjusted M2 rose to $23,342.8 billion in August
The Federal Reserve Board's Money Stock Measures release published September 22 put seasonally adjusted M2 at 23,342.8 billion dollars in August after a revised 23,217.9 billion in July. Seasonally adjusted M1 was 19,991.1 billion dollars after 19,886.5 billion. The monetary base was 5,411.6 billion dollars after 5,523.9 billion. Currency in circulation was 2,475.6 billion dollars and reserve balances were 2,936.0 billion. M2 is the Board's published stock; a one-month rise does not by itself settle whether money is growing faster than output, but the stock is the quantity the Board printed.
- M2, seasonally adjusted
- $23,342.8B
- M1, seasonally adjusted
- $19,991.1B
- Monetary base
- $5,411.6B
- Currency in circulation
- $2,475.6B
- Reserve balances
- $2,936B
Source: Money Stock Measures (H.6), August 2026 — Board of Governors of the Federal Reserve System. Also: M2 (M2SL).
all 5 figures found at the source
- found M2, seasonally adjusted = $23,342.8B — at Board of Governors of the Federal Reserve System
- found M1, seasonally adjusted = $19,991.1B — at Board of Governors of the Federal Reserve System
- found Monetary base = $5,411.6B — at Board of Governors of the Federal Reserve System
- found Currency in circulation = $2,475.6B — at Board of Governors of the Federal Reserve System
- found Reserve balances = $2,936B — at Board of Governors of the Federal Reserve System
CFNAI was -0.04 in August; Atlanta Fed GDPNow Q3 is 5.0 percent
The Chicago Fed National Activity Index was -0.04 in August after 0.08 in July. The three-month moving average was 0.01 after -0.01, and the diffusion index was 0.02 after 0.04. A zero monthly reading has been associated with trend growth. The Richmond Fed Fifth District composite manufacturing index fell to -2 in September from 4 in August, with shipments at -5 and new orders at -6. The Atlanta Fed GDPNow model estimate for real GDP growth in the third quarter of 2026 is 5.0 percent on September 25, down from 5.1 percent on September 17. GDPNow is a model nowcast, not an official forecast of the Atlanta Fed or the FOMC.
- Chicago Fed National Activity Index
- -0.0
- CFNAI three-month moving average
- 0.0
- Fifth District composite manufacturing index
- -2.0
- GDPNow real GDP growth nowcast, Q3 2026
- 5%
Source: Chicago Fed National Activity Index, current data — Federal Reserve Bank of Chicago. Also: Manufacturing Survey, September 22, 2026, GDPNow commentaries, September 25, 2026.
all 4 figures found at the source
- found Chicago Fed National Activity Index = -0.0 — via FRED CFNAI
- found CFNAI three-month moving average = 0.0 — via FRED CFNAIMA3
- found Fifth District composite manufacturing index = -2.0 — at Federal Reserve Bank of Chicago
- found GDPNow real GDP growth nowcast, Q3 2026 = 5% — at Federal Reserve Bank of Chicago
August durable-goods orders were virtually unchanged at $338.6 billion
The Census Bureau said new orders for manufactured durable goods in August decreased 0.1 billion dollars, or were virtually unchanged, to 338.6 billion dollars after a 0.9 percent July increase. Excluding transportation, new orders increased 0.3 percent. Excluding defense, new orders increased 0.1 percent. Transportation equipment drove the decrease, falling 0.7 billion dollars or 0.6 percent to 114.1 billion dollars.
- New orders for manufactured durable goods, level
- $338.6B
- New orders for manufactured durable goods, monthly dollar change
- $-0.1B
- New orders excluding transportation, monthly change
- 0.3%
- New orders excluding defense, monthly change
- 0.1%
- Transportation equipment new orders, level
- $114.1B
- Transportation equipment new orders, monthly change
- -0.6%
- New orders, July monthly change
- 0.9%
Source: Monthly Advance Report on Durable Goods Manufacturers' Shipments Inventories and Orders, August 2026 — U.S. Census Bureau.
all 7 figures found at the source
- found New orders for manufactured durable goods, level = $338.6B — at U.S. Census Bureau
- found New orders for manufactured durable goods, monthly dollar change = $-0.1B — at U.S. Census Bureau
- found New orders excluding transportation, monthly change = 0.3% — at U.S. Census Bureau
- found New orders excluding defense, monthly change = 0.1% — at U.S. Census Bureau
- found Transportation equipment new orders, level = $114.1B — at U.S. Census Bureau
- found Transportation equipment new orders, monthly change = -0.6% — at U.S. Census Bureau
- found New orders, July monthly change = 0.9% — at U.S. Census Bureau
Commercial-bank credit was $19,876.3 billion in the week ended September 16
The Board's commercial-bank assets and liabilities release dated September 25 lists seasonally adjusted bank credit at 19,876.3 billion dollars in the week ended September 16 after 19,866.8 billion in the week ended September 9. Loans and leases in bank credit were 14,079.0 billion after 14,062.4 billion. Commercial and industrial loans were 2,965.3 billion after 2,967.7 billion. Deposits were 19,568.4 billion after 19,657.5 billion. Table 1 break-adjusted seasonally adjusted annual rates for August show bank credit up 4.9 percent after 5.5 percent in July.
- Bank credit
- $19,876.3B
- Loans and leases in bank credit
- $14,079B
- Commercial and industrial loans
- $2,965.3B
- Deposits
- $19,568.4B
- Bank credit, monthly SAAR
- 4.9%
Source: Assets and Liabilities of Commercial Banks in the United States — September 25, 2026 — Board of Governors of the Federal Reserve System.
all 5 figures found at the source
- found Bank credit = $19,876.3B — at Board of Governors of the Federal Reserve System
- found Loans and leases in bank credit = $14,079B — at Board of Governors of the Federal Reserve System
- found Commercial and industrial loans = $2,965.3B — at Board of Governors of the Federal Reserve System
- found Deposits = $19,568.4B — at Board of Governors of the Federal Reserve System
- found Bank credit, monthly SAAR = 4.9% — at Board of Governors of the Federal Reserve System
Treasury par curve lists the 10-year at 5.18 percent on September 24
Treasury's Daily Treasury Par Yield Curve Rates list a September 24 10-year par yield of 5.18 percent after 5.11 percent on September 23 and 4.96 percent on September 22. The 2-year was 4.87 percent after 4.85 percent, the 5-year 5.03 percent after 4.99 percent, and the 30-year 5.47 percent after 5.40 percent. The 2s10s par spread was 31 basis points after 26. The Board's selected interest rates release through September 24 lists the effective federal funds rate at 3.88 percent, unchanged from September 23, with bank prime at 7.00 percent and primary credit at 4.00 percent. The curve moved after last week's 25 basis-point funds-rate increase; these are the published yields, not a forecast of the next meeting.
- 2-year Treasury par yield
- 4.87%
- 5-year Treasury par yield
- 5.03%
- 10-year Treasury par yield
- 5.18%
- 30-year Treasury par yield
- 5.47%
- 2s10s Treasury par spread
- +31 bp
- Effective federal funds rate
- 3.88%
Source: Daily Treasury Par Yield Curve Rates, September 2026 — U.S. Department of the Treasury. Also: Selected Interest Rates (Daily) — September 25, 2026.
all 6 figures found at the source
- found 2-year Treasury par yield = 4.87% — at U.S. Department of the Treasury
- found 5-year Treasury par yield = 5.03% — at U.S. Department of the Treasury
- found 10-year Treasury par yield = 5.18% — at U.S. Department of the Treasury
- found 30-year Treasury par yield = 5.47% — at U.S. Department of the Treasury
- found 2s10s Treasury par spread = +31 bp — at U.S. Department of the Treasury
- found Effective federal funds rate = 3.88% — at U.S. Department of the Treasury
4 further items were researched for this week and held back: their figures could not be found at the named source by the automated pass, so they are not published here.
Items report what the named sources published in the window; they are not this site's own findings, and a source's framing is not a verdict on who owns the money supply. Figures are as those sources printed them. The methodology says how this page is made and what is checked.