THE BASIS POINT

Housing Starts down. Purchase Applications Spike.

 

MBA Purchase Applications (week ended 11/14/2014)

– Purchase Index Week/Week +12.0%. Previous weeks were +1.0%, +3.0%, -5.0%, -5.0%, -1.0%, +2.0%, +0.0%, -0.3%, +5.0%, -3.0%, -2.0%, and +3.0%.

– Refinance Index Week/Week -6.0%. Previous weeks were -11.0% -6.0%, -7.0%, +23.0%, +11.0%, +5.0%, -0.3%, -7.0%, +10.0%, -11.0%, and +1.0%.

– Composite Index Week/Week +4.9%. Previous weeks were -0.9%, -2.6%, -6.6%, +11.6%, -5.6%, +3.8%, -0.2%, -4.1%, +7.9%, -7.2%, and +0.2%.

Year-on-year Purchase Applications are -6.0%.

 

Housing Starts (October 2014)

– Starts (seasonally adjusted, annualized)  1,009,000. Previous was 1,038,000
– Permits (seasonally adjusted, annualized) 1,080,000. Previous was 1,031,000..

300,000 of October’s Starts were in apartment buildings.  696,000 were single family.

 

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