New Home Sales up, Purchase Applications down.

New Home Sales (September 2012)

– New Home Sales  (seasonally adjusted annualized rate) – 389,000.  Previous was 368,000
– The median price of a new home sold was down 3.2% which breaks a string of increases.

A slow, steady increase in New Home Sales is a healthy sign but…

MBA Mortgage Applications (week ended 10/19/2012)

Purchase Index – Week/Week  -8.0%
Refinance Index – Week/Week -13.0%
Composite Index – Week/Week -12.0%

The drop in refinance applications stems from higher rates.  The drop in purchase applications indicates a possible flattening in Home Sales.

PMI Manufacturing Index Flash (October 2012)

– Level was 51.3 down from 51.5 but still indicative of growth.  This is a survey index.

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