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State of the mortgage industry – dispatch from Mastermind 2016

What does a huge sales conference tell us about the state of the industry. A lot as it turns out.

 

Business Insider reinvented financial media within 8 years, and now CEO Henry Blodget wants to fix capitalism

Step 1: dominate financial media in the social media era. Step 2: Fix the entire capitalistic system.

 

Industrial Production down.

MBA Mortgage Applications (week ended 6/10/2016) – Purchase Index Week/Week -5.0%. Previous weeks were +12.0%, -5.0%, +5.0%, -6.0%, +0.4%, +1.0%, -2.0%, -1.0%, +8.0%, -2.0%, +2.0%, -1.0%, and +0.3%. – Refinance Index Week/Week -1.0%. Previous weeks were +7.0%, -4.0%, +0.4%, +1.0%, +0.5%, -6.0%, -5.0%, +3.0%. +11.0%, +7.0%, -3.0%, -5.0%, and -6.0%. – Composite Index Week/Week -2.4%. […]

 

Retail Sales +0.5%.

NFIB Small Business Optimism Index (May 2016) – level 93.8. Previous was 93.6   Retail Sales (May 2016) – Retail Sales month/month +0.5%. Previous was +1.3% – Retail Sales less autos month/month +0.4%. Previous was +0.4% – Less Autos & Gas month/month +0.3%. Previous was +0.6%. Growth was modest but, coming after a strong April, […]

 

Quicken Loans founder Dan Gilbert’s Yahoo Bid: Crazy or Genius?

Endless synergies come from pairing web’s top finance and sports destinations with country’s top mortgage company and NBA team.

 

Friday Funk: Fire – Ohio Players

Tunes to help the Dubs (and everyone out there) get their cool back for the weekend.

 

Consumer Sentiment down Slightly.

Consumer Sentiment (June 2016) – Sentiment 94.3. Previous was 94.7. This is the University of Michigan Index. This survey index is supposed to be a leading indicator of Consumer Spending in the next 3-6 months.

 

Wholesale – a Component of GDP – Improves.

Initial Jobless Claims (week ended 6/4/2016) – New Claims seasonally adjusted 264,000. Previous was 268,000 – New Claims unadjusted totaled 232,507 a decrease of 14,560 from previous – 4-week Moving Average seasonally adjusted 269,500. Previous was 277,000   Wholesale Trade (April 2016) – Inventories month/month +0.6%. Previous was +0.2% This is a GDP component.

 

Job Openings up as People Leave Workforce.

MBA Mortgage Applications (week ended 6/3/2016) – Purchase Index Week/Week +12.0%. Previous weeks were -5.0%, +5.0%, -6.0%, +0.4%, +1.0%, -2.0%, -1.0%, +8.0%, -2.0%, +2.0%, -1.0%, +0.3%, and +4.0%. – Refinance Index Week/Week +7.0%. Previous weeks were -4.0%, +0.4%, +1.0%, +0.5%, -6.0%, -5.0%, +3.0%. +11.0%, +7.0%, -3.0%, -5.0%, -6.0%, and -2.0%. – Composite Index Week/Week +9.3%. […]

 

Worker Productivity down again.

Productivity and Costs  (1stQ2016) – Nonfarm productivity quarter/quarter seasonally adjusted, annualized -0.6%. Previous was -1.0% – Unit labor costs quarter/quarter seasonally adjusted, annualized +4.5%. Previous was +4.1%. Productivity is defined as total GDP divided by total hours worked.  Traditionally it has been associated with getting more done (higher GDP) with the same amount of human […]

 
 
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