PPI up, Mortgage Applications down.

MBA Mortgage Applications (week ended 7/11/2014)  

– Purchase Index Week/Week -8.0%. Previous weeks were +4.0%, -1.0%, -1.0%. -5.2%, +9.0%, -4.0%, -1.0%, -3.0%, -1.0%, +9.0%, -4.0%, and -3.0%.

– Refinance Index Week/Week -0.1%. Previous weeks were +0.4%, +0.1%, -1.0%, -13.0%, +11.0%, -3.0%, -1.0%, +4.0%, +7.0%, +2.0%, and -7.0%.

– Composite Index Week/Week -3.6%. Previous weeks were +1.9%, -0.2%, -1.0%, -9.2%, +10.3%, -3.1%, -1.2%, +0.9%, +3.6%, +5.3%, and -5.9%.

The weak economy and tighter mortgage lending regulations are making purchasing a home more difficult.

PPI-FD (June 2013)

– PPI-FD month/month  +0.4%. Previous was -0.2%

– PPI-FD year/year    +1.9%. Previous was  +2.0%

– PPI-FD less food & energy month/month +0.2%. Previous was -0.1%

– PPI-FD less food & energy -year/year  +1.7%. Previous was +2.0%

– PPI-FD less food, energy & trade services month/month +0.2%. Previous was + 0.0%.

Wholesale price inflation returned in June with about half the increase due to energy.

Industrial Production (June 2014)

– Production month/month +0.2%. Previous was +0.5%

– Capacity Utilization Rate 79.1%. Previous was 79.1%

– Manufacturing month/month +0.1%. Previous was +0.6%.

Growth is still there but as a slower pace.

NAHB Housing Market Index  (July 2014)

– Housing Market Index 53.  Previous was 49.

This is an index calculated from surveys of homebuilders.  Even though it is just above neutral, this is the best reading so far this year.