Archive for December, 2012

Manufacturing up in Texas

Dallas Federal Reserve Manufacturing Survey (December 2012) – Business Activity Index 6.8.  Previous was -2.8. – Production Index 2.7. Previous was 1.7. – Employment Index -1.0  

New Home Sales Rise. Consumer Confidence Falls.

Jobless Claims (week ended 12/22/2012) – Initial Claims 350,000.  Previous was revised to 362,000 – 4-week Moving Average 356,750 Data for last week may not be reliable. There were 2 days off and data was collected for only 31 states.  The others were estimated. New Home Sales (November 2012) – Sales were 377,000 (seasonally adjusted, […]

Home Prices up. Chain Store Sales Disappoint.

Case-Shiller Home Price Index (October 2012) – 20-city, Seasonally Adjusted – Month/Month +0.7% – 20-city, Not Seasonally Adjusted – Month/Month -0.1% – 20-city, Not Seasonally Adjusted – Year/Year +4.3% It is my belief that home prices are rising because of lack of supply elasticity. There are still too many people with no equity and this eliminates […]

Personal Spending Modestly Positive. Inflation Contained.

Personal Income and Outlays (November 2012) Personal Income – Month/Month +0.6%. Previous was +0.0%. Consumer Spending – Month/Month  +0.4%. Previous was -0.2% PCE Price Index — M/M  -0.2% Core PCE price index – Month/Month  +0.0% Personal Income – Year/Year  +4. % Consumer Spending – Year/Year +3.5% PCE Price Index — Year/Year +1.4% Core PCE price […]

Government Spending Pads GDP. Existing Home Sales up.

GDP (3rdQ2012) – Real GDP – Quarter/Quarter  +3.1% – GDP price index – Quarter/Quarter  +2.7% – Final sales of domestic goods was +2.4% The previous iteration of 3rdQ2012 GDP was estimated at +2.7%.  2ndQ2012 had been +1.7%.  The final sales of domestic goods is the best measure of economic health becaue it is all about […]

Two Best SNL Skits Of December

Bitch, What’s The Answer? (Jamie Foxx) and The Royal Family Doctor (Martin Short)

Protected: Julian Hebron voted one of America’s 40 Most Influential Mortgage Pros Under 40

There is no excerpt because this is a protected post.

Housing Starts and Mortgage Applications Down

MBA Mortgage Applications (week ended 12/14/2012) Purchase Index Week/Week -5.0% Refinance Index Week/Week -14.0% Composite Index Week/Week -12.3% Purchase application fell after 5 weeks of gains.  Rates drive refinancing. I believe that we are seeing the premium in prices in the Treasury market (lower yields and rates) which was created by the fiscal cliff angst […]

Mortgage Interest Deduction Not As Important As People Think

With rents rising, it’s cheaper to buy than rent in certain areas … even without the mortgage interest deduction.

Modest Gains in Housing and Chain Store Sales

Housing Market Index (December 2012) – Index is 47 up from previous 46. This is a survey index carried out by the National Association of Home Builders. Chain Store Sales (week ended 12/15/2012) ICSC-Goldman – Store Sales (week/week) +4.3%. Previous was -0.7%. – Store Sales (year/year) +3.5%. Previous was +2.5%. Redbook – Store Sales (year/year) […]

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