Inflation Remains Low.

MBA Mortgage Applications  (week ended 9/11/2015)

– Purchase Index Week/Week -4.0%. Previous weeks were -1.0%, +4.0%, +2.0%, -1.0%, -4.0%, +3.0%, +0.8%, -0.1%, +1.0%, -8.0%, +7.0%, -4.0%, and +1.0%.

– Refinance Index Week/Week -9.0%. Previous weeks were -10.0%, +17.0%, -1.0%, +7.0%, +3.0%, +6.0%, +2.0%, -1.0%, +4.0%, +3.0%, -5.0%, and +2.0%.

– Composite Index Week/Week -7.0%. Previous weeks were -6.2%, +11.3%, +0.2%, +3.6%, -0.1%, +0.8%, -1.9%, +4.6%, -4.7%, +1.6%, -5.5%, and +8.4%.

That week contained the Labor Day Holiday.

 
Consumer Price Index (August 2015)

– CPI month/month  -0.1%. Previous was +0.1%
– CPI year/year +0.2%. Previous was +0.2%
– CPI core (less food & energy) month/month  +0.1%. Previous was  +0.1%
– CPI core (less food & energy) year/year  +1.8%. Previous was +1.8%.

 
Housing Market Index (September 2015)

– Housing Market Index  62. Previous was 61.

This is an index which surveys homebuilders who remain fairly confident.  For about 8 years there have been fewer Housing Starts than what is necessary to accommodate a growing population.