Purchase Mortgage Applications +30% year-on-year.

MBA Mortgage Applications (week ended 3/4/2016)

– Purchase Index Week/Week +4.0%. Previous weeks were -1.0%, +2.0%, -4.0%, +0.2%, -7.0%, +5.0%, -2.0%, +18.0%,-15.0%, +4.0%, -3.0%, +0.04%, and +8.0%.

– Refinance Index Week/Week -2.0%. Previous weeks were -7.0%, -8.0%, +16.0%, +16.0%, +0.3%, +11.0%, +19.0%, +24.0%, -37.0%, +11.0%, +1.0%, +4.0%, and -6.0%.

– Composite Index Week/Week +0.2%. Previous weeks were -4.8%, -4.3%, +8.2%, +9.3%, -2.6%, +8.8%, +9.0%, +21.3%, -27.0%, +7.3%, -1.1%, and +1.2%.

Purchase applications are +30% year-on-year.

 
Wholesale Trade (January 2016)

– Inventories month/month +0.3%. Previous was +0.0%.  Wholesale Inventories were down in each of the 3 months of 4thQ2015 so the gain, while small, is a modest positive.  Wholesale inventory changes are essentially corrections to mismatch between anticipated and actual retail sales.  4thQ2015 Retail Sales were weaker than anticipated.