Housing Growth Restrained.

MBA Mortgage Applications (week ended 6/26/2015)

– Purchase Index Week/Week -4.0%. Previous weeks were +1.0%. -4.0%, +10.0%, -3.0%, +1.0%, -4.0%, -0.2%, +1.0%, +0.0%, +5.0%, -3.0%, +7.0%, and +6.0%.

– Refinance Index Week/Week -5.0%. Previous weeks were +2.0%, -7.0%, +7.0%, -12.0%, -4.0%, +0.3%, -6.0%, -8.0%, -4.0%, +1.0%, -2.0%, and -3.0%.

– Composite Index Week/Week -4.7%. Previous weeks were +1.6%, -5.5%, +8.4%, -7.6%, -1.6%, -1.5%, -3.5%, -4.6%, -2.3%, +2.3%, -2.3%., +0.4%, and +4.6%.

Year-on-year, purchase applications are up 14.0%.

 

Challenger Job-Cut Report (June 2015)

– Announced Layoffs 44,842. Previous was 41,034

 

ADP Private Sector Jobs (June 2015)

– ADP employment +237,000. Previous was 203,000.

Lately this has provided a good forecast of the BLS Employment Report which is scheduled to be released tomorrow because Friday is a holiday.

PMI Manufacturing Index (June 2015)

– Index level  53.6. Previous was 54.0.

 

ISM Manufacturing Index   (June 2015)

– Index level    53.5. Previous was  52.8

 

Construction Spending (May 2015)

– Construction Spending month/month  +0.8%. Previous was +2.1%.

Residential construction spending was +0.3%.  This indicates restrained growth in Housing Starts.