Straight Stats Mortgage interest rates improved slightly on the week despite limited new economic data. Economic data of note included the August ISM Services Sector Index, which was slightly better than expected but indicated limited growth. Weekly jobless claims increased by 2k on expectations More...
Weekly Mortgage Update – 4.4.2011
Posted On April 4th, 2011 by Gale | Comments ClosedStraight Stats
Mortgage interest rates increased slightly this past week on mixed economic data. Today’s employment report for March showed that non-farm payrolls increased by 216k on expectations that they would increase by 185k. Non-farm private payrolls increased by 203k, in line with expectations. The unemployment rate fell to 8.8% on expectations that it would remain unchanged at 8.9%. February Personal Income increased 0.3%, in line with expectations, and February Personal Spending increased 0.7% on expectations that it would increase by 0.5%. January Pending Home Sales increased 2.1% on expectations that sales would increase 0.3%. Year over year, though, pending home sales fell by 8.2%. The Chicago Purchasing Managers index was stronger than expected. Economic data weaker than expected included March Consumer Confidence, February Factory Orders, the March ISM Manufacturing Index, and February Construction Spending.
Weekly Mortgage Update – 2.28.11
Posted On February 28th, 2011 by Gale | Comments ClosedStraight Stats
Mortgage interest rates improved slightly on the week on a flight to safety as a result of unrest in the Middle East. Economic data was mixed. Economic reports better than expected included February Consumer Confidence, January Existing Home Sales, weekly jobless claims, and the University of Michigan Consumer Sentiment Index. The February Consumer Confidence Index increased to 70.4, its highest level in three years. Economic reports weaker than expected included January Durable Goods Orders and the second look at Q4 GDP. Q4 GDP was expected to be revised upward to +3.3% from +3.2%. As reported, though, Q4 GDP fell to +2.8%. Also of note, the Treasury Department auctioned $99 billion of 2 Year Notes, 5 Year Notes, and 7 Year Notes. The auctions were met with somewhat soft demand.
Weekly Mortgage Update – 2.21.11
Posted On February 21st, 2011 by Gale | Comments ClosedStraight Stats
Mortgage interest rates improved slightly on the week on mixed economic data. Economic data weaker than expected included January Retail Sales, January Building Permits, January Industrial Production, January Capacity Utilization, and January Leading Economic Indicators. Economic data stronger than expected included December Business Inventories, January Housing Starts, and the February Philadelphia Fed Business Index. Inflation data was slightly higher than expected. The January Producer Price Index (PPI) increased 0.8% on expectations that it would increase 0.7%. Excluding the food and energy components, core PPI increased 0.5% on expectations that it would increase by 0.2%. This is the largest month over month increase in core PPI since October of 2008. The Consumer Price Index (CPI) increased 0.4% on expectations that it would increase 0.3%. Core CPI, excluding food and energy, increased 0.2% on expectations that it would increase 0.1%.
Weekly Mortgage Update – 2.14.11
Posted On February 14th, 2011 by Gale | Comments ClosedStraight Stats
Mortgage interest rates increased slightly on the week without much new economic data for markets to digest. Of note, weekly jobless claims fell by 36k to 383k filings, its lowest level since July of 2008. December Consumer Credit increased by $6.1 billion on expectations that it would increase by $2.5 billion. The December Trade Balance came in at a deficit of $40.58 billion, in line with expectations. The University of Michigan Consumer Sentiment Index came in at 75.1, an eight month high. Also of note, the Treasury auctioned $72 billion in 3 Year Notes, 10 Year Notes, and 30 Year Bonds. Overall, the auctions were met with mixed demand.
Outlook 2011: Boulder County Real Estate Market
Posted On February 10th, 2011 by Martin Sugg | Comments ClosedPredictions for our local real estate market in 2011 are mixed. A February 4th article in the Boulder County Business Report reinforces forecasts from last fall (see article in Forbes) that in spite of an improved economy overall housing has its continued challenges. On the bright side our Colorado housing market is showing signs of resilience compared to other parts of the country.
Weekly Mortgage Update – 1.31.11
Posted On January 31st, 2011 by Gale | Comments ClosedStraight Stats
Mortgage interest rates were mostly flat on the week on mixed economic data. Economic reports stronger than expected included Consumer Confidence, December New Home Sales, November Pending Home Sales, and the University of Michigan Consumer Sentiment Index. Economic reports weaker than expected included the Case Shiller Home Price Index, weekly jobless claims, Durable Goods Orders, and the first look at Q4 GDP. Q4 GDP was up 3.2% on expectations that it would be up 3.5%. However, final sales in the fourth quarter increased 7.1%, the biggest increase in sales since 1984. GDP growth for all of 2010 was +2.9%, the strongest in five years. Also of note, the Treasury auctioned $99 billion in 2 Year Notes, 5 Year Notes, and 7 Year Notes. The auctions were met with reasonably strong demand.
Weekly Mortgage Update – 1.18.11
Posted On January 18th, 2011 by Gale | Comments ClosedStraight Stats
Mortgage interest rates improved on the week on mixed economic data. Economic reports stronger than expected included the November Trade Deficit, December Industrial Production, and December Capacity Utilization. December Capacity Utilization increased to 76%, the highest factory use since August of 2008. Economic reports weaker than expected included weekly jobless claims, December Retail Sales, the January University of Michigan Consumer Sentiment Index, and November Business Inventories. Inflation data of note included the Consumer Price Index (CPI) for December which was up 0.5% on expectations that it would be up 0.4%. Year over year, though, CPI increased just 1.5%. The Treasury auctioned $66 billion in 3 Year Notes, 10 Year Notes, and 30 Year Bonds. The auctions were met with reasonably strong demand from the markets.
Weekly Mortgage Update – 1.10.11
Posted On January 10th, 2011 by Gale | Comments ClosedStraight Stats
Mortgage interest rates were mostly flat on the week despite generally stronger than expected economic data. Economic reports better than expected included November Construction Spending, November Factory Orders, and the December ISM Services Sector Index. The ISM Services Sector Index increased to 57.1, the highest level since early 2006. Employment data was mixed. The December ADP Private Jobs Report showed job gains of 297k on expectations of 100k job gains. However, today’s employment report for December from the Bureau of Labor Statistics showed gains in non-farm payrolls of 103k on expectations of a gain of 160k non-farm payrolls. Private non-farm jobs increased by 113k on expectations of an increase of 180k jobs.
Weekly Mortgage Update – 1.3.10
Posted On January 3rd, 2011 by Gale | Comments ClosedStraight Stats
A run of good economic data continued this week, maintaining the upward pressure on long-term interest rates that began in November.
The National Association of Realtors reported a 3.5% increase in pending sales in November, although still 9% below 2009. New claims for unemployment insurance fell to the best level since 2008, a little more than 400,000 weekly. The Chicago purchasing managers’ survey of manufacturing (“ISM”) jumped in December, possibly indicating growing strength in the national numbers due on Monday. On the weak side: the leading measure of consumer confidence slid in December, and the October Case/Shiller report of home prices was weaker than any expected.
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