Existing Home Sales Recover Some of February Loss.

MBA Mortgage Applications (week ended 4/15/2016)

– Purchase Index Week/Week -1.0%. Previous weeks were +8.0%, -2.0%, +2.0%, -1.0%, +0.3%, +4.0%, -1.0%, +2.0%, -4.0%, +0.2%, -7.0%, +5.0%, and -2.0%.

– Refinance Index Week/Week +3.0%. Previous weeks were +11.0%, +7.0%, -3.0%, -5.0%, -6.0%, -2.0%, -7.0%, -8.0%, +16.0%, +16.0%, +0.3%, +11.0%, and +19.0%.

– Composite Index Week/Week +1.3% . Previous weeks were +10.0%, +2.7%, -1.0%, -3.3%, -3.3%, +0.2%, -4.8%, -4.3%, +8.2%, +9.3%, -2.6%, and +8.8%.

This data supports the weak Housing Starts data we saw yesterday.

 

 
Existing Home Sales (March 2016)

– Existing Home Sales seasonally adjusted, annualized  5,330,000. Previous was 5,070,000
– Existing Home Sales month/month  +5.1%. Previous was -7.3%
– Existing Home Sales year/year    +1.5%. Previous was +2.2%.

This gain does not make up for the large loss in February.