Mortgage Applications (week ending 8/26)
-Purchase Index Week/Week: +0.9%
-Refinance Index Week/Week: -12.2%
-Composite Index Week/Week: -9.6%
-The increase in the purchase index is good news for the huisng sector which is in serious need of good news. The refi index is rate sensitive and next week will probably show an increase for this week.
-ADP Private Sector Jobs was +91,000 for August, a modest gain
-This is a graph of ADP vs. BLS Jobs.
-BLS is this Friday, and the more important market mover.
Challenger Jobs Cuts
-Announced layoffs in August were 51,114, down from July’s 66,414.
-This is a report of announced jobs cuts at large companies.
-Factory Orders Month/Month: +2.4%.
-This is largely about recovery in the auto sector.
ISM – Chicago
-The Institute for Supply Management business barometer index for the Chicago area was 56.5 for August down from 58.8.