MBA Mortgage Applications – Purchase Index Week/Week -3.0 %. Previous weeks were -4.0%, +2.0%, – 1.4%, +0.3%, and +4.0%. – Refinance Index Week/Week -12.0 %. Previous weeks were -8.0%, +3.0%, +0.3%, +5.0% and +6.0%. – Composite Index Week/Week -9.8 %. Previous weeks were -7.3%, +7.0%, +1.8%, +0.2%, +4.8%, +4.5%. The decrease in refinancing is due [...]
Archive for the ‘Fundamentals’ Category
Chain store sales seem to indicate modest increases
Just as every other recent manufacturing index, this one shows that manufacturing in the U.S. is not recovering.
Home construction at a 5mo low.
Rates trying to hold their ground. Plus a rundown of homebuilder confidence, mortgage applications, PPI, manufacturing
Rundown of today’s economic fundamentals.
Rates up again today after this morning’s data.
The mortgage business is an example of government policies at cross-purposes: 1) pump up money supply and 2) tighten lending standards.
This data is positive for the economy but is not the entire employment picture.