THE BASIS POINT

A Slow Summer for Purchase Applications,

 

MBA Mortgage Applications (week ended 8/5/016)

– Purchase Index Week/Week +3.0%. Previous weeks were -2.0%, -3.0%, -2.0%, +0.0%, +4.0%, -3.0%, -2.0%, -5.0%, +12.0%, -5.0%, +5.0%, -6.0%, and +0.4%.
– Refinance Index Week/Week +10.0%. Previous weeks were -3.0%, -15.0%, -1.0%, +11.0%, +21.0%, -2.0%, +7.0%. -1.0%, +7.0%, -4.0%, +0.4%, +1.0%, and +0.5%.
– Composite Index Week/Week +7.1%. Previous weeks were -3.5%, -11.2%, -1.3%, +7.2%, +14.2%, -2.6%, +2.9%, -2.4%, +9.3%, -4.1%, +2.3%, and -1.6%.

The small gain Purchase Application stopped the 3-week slide but still is not indicating health in housing.

 
JOLTS (June 2016)

– Job Openings 5,62,000. Previous was 5,514,000

This number has been strong all year. To some extent it represents the fact that there are jobs to be had but not the people with the skills to fill them.

JOLTS in an acronym for the Labor Department’s Job Openings and Labor Turnover Survey.

 

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