Inflation Remains Low.
MBA Mortgage Applications (week ended 9/11/2015)
– Purchase Index Week/Week -4.0%. Previous weeks were -1.0%, +4.0%, +2.0%, -1.0%, -4.0%, +3.0%, +0.8%, -0.1%, +1.0%, -8.0%, +7.0%, -4.0%, and +1.0%.
– Refinance Index Week/Week -9.0%. Previous weeks were -10.0%, +17.0%, -1.0%, +7.0%, +3.0%, +6.0%, +2.0%, -1.0%, +4.0%, +3.0%, -5.0%, and +2.0%.
– Composite Index Week/Week -7.0%. Previous weeks were -6.2%, +11.3%, +0.2%, +3.6%, -0.1%, +0.8%, -1.9%, +4.6%, -4.7%, +1.6%, -5.5%, and +8.4%.
That week contained the Labor Day Holiday.
Consumer Price Index (August 2015)
– CPI month/month -0.1%. Previous was +0.1%
– CPI year/year +0.2%. Previous was +0.2%
– CPI core (less food & energy) month/month +0.1%. Previous was +0.1%
– CPI core (less food & energy) year/year +1.8%. Previous was +1.8%.
Housing Market Index (September 2015)
– Housing Market Index 62. Previous was 61.
This is an index which surveys homebuilders who remain fairly confident. For about 8 years there have been fewer Housing Starts than what is necessary to accommodate a growing population.