Step 1: dominate financial media in the social media era. Step 2: Fix the entire capitalistic system.
June 2016
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%.
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,
Endless synergies come from pairing web's top finance and sports destinations with country's top mortgage company and NBA team.
Tunes to help the Dubs (and everyone out there) get their cool back for the weekend.
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.
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.
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%.
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
Labor Market Conditions Index (May 2016) – Index -4.8. Previous was -0.9. This index is compiled by the Federal Reserve and looks at 19 components of the jobs market and calculates an index which is much more meaningful than the BLS Jobs number. It has been weak since March 2015. https://research.stlouisfed.org/fred2/series/FRBLMCI
Still no major spike expected for rates.
Here's a weekend Originations linkfest focused mostly on media. Especially Tribune being eviscerated for rebranding as Tronc.
A word on what I've learned writing for the most read housing site on the web.
See which lenders are leading the pack in U.S. mortgage lending.
Musical manifesto to help you get your cool back for the weekend.
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