THE BASIS POINT

Encouraging ADP Private Jobs.

 

MBA Mortgage Applications (week ended 3/28/2014)

– Purchase Index Week/Week +1.0%. Previous weeks were +3.0%, -1.0%, -1.0%, +9.0%, -4.0%, -6.0%, -5.0%, -4.0%, +2.0%, -4.0%, +12.0%, and -1.0%.

– Refinance Index Week/Week -3.0%. Previous weeks were -8.0%, -1.0%, -3.0%, +10.0%, -11.0%, -3.0%, -0.2%, +3.0%, -2.0%, +10.0%, and +11.0%.

– Composite Index Week/Week -1.2%. Previous weeks were -3.5%, -1.2%, -2.1%, +9.4%, -8.5%, -4.1%, -0.2%, +0.4%, -0.2%, +4.7%, and +11.9%.

Year-on-year Purchase Applications are down 17% the same as last week.

ADP Private Jobs (March 2014)

– Private Jobs were +191,000 and the previous month was revised upward by 39,000.  This offers encouragement for an improved BLS report this Friday. This release is not great but it is better than we have seen.  The economy has struggle to create jobs.

Factory Orders (February 2014)

– Factory Orders Month/Month +1.6%.  Previous was revised down to -1.0%.

 

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