Today's fundamentals: GDP better but jobless claims higher, and personal income flat, and consumer spending down.
Durable Goods
Today's rate briefing and a rundown of pending home sales, jobless claims, durable goods orders.
Preview of Fed press conference. Plus today's stats: mortgage applications, durable goods.
Roundup today's mortgage application and durable goods data.
Stocks and rates flat ahead of Greek CDS decision and conflicting data: home prices, consumer confidence, chain store sales, durable goods
Stocks and rates flat ahead of Greek CDS decision and conflicting data: home prices, consumer confidence, chain store sales, durable goods
Personal income stagnating. New Home Sales improve, but still, 2011 numbers aren't pretty.
Personal income stagnating. New Home Sales improve, but still, 2011 numbers aren't pretty.
Durable Goods Orders (September) -New Orders – Month/Month -0.8 % -Ex-transportation – Month/Month 1.7 % -It is possible that this indicates that the GDP gains in 3rdQ will not be matched by the 4thQ. The flattening of the leading Consumer Metrics data is still there. Housing -New Home Sales (seasonally adjusted annual rate) 313,000. -Previous
MBA Mortgage Applications -Purchase Index, Week/Week: +2.1% -Refinance Index, Week/Week: +11.2% -Composite Index, Week/Week: +9.3% -Refinancing activity was driven by the extremely low rates of last week. -Purchases are so small that a 2.1% bump is not that meaningful. Durable Goods Orders -New Orders, Month/Month: -0.1% -New Orders, Year/Year: 12.3% -Ex-transportation, Month/Month: -0.1% -Ex-transportation, Year/Year:
MBA Mortgage Applications -Purchase Index, Week/Week: +2.1% -Refinance Index, Week/Week: +11.2% -Composite Index, Week/Week: +9.3% -Refinancing activity was driven by the extremely low rates of last week. -Purchases are so small that a 2.1% bump is not that meaningful. Durable Goods Orders -New Orders, Month/Month: -0.1% -New Orders, Year/Year: 12.3% -Ex-transportation, Month/Month: -0.1% -Ex-transportation, Year/Year:
MBAA Mortgage Applications (week ending 8/19) – Purchase Index – Week/Week: -5.7% – Refinance Index – Week/Week -1.7% – Composite Index – Week/Week -2.4% -Purchase apps lowest since 1996 -Weak purchases in what should be heart of home buying season -Lack of buyer confidence, concern about values, tough qualifying standards FHFA Home Price Index (June)
MBAA Mortgage Applications (week ending 8/19) – Purchase Index – Week/Week: -5.7% – Refinance Index – Week/Week -1.7% – Composite Index – Week/Week -2.4% -Purchase apps lowest since 1996 -Weak purchases in what should be heart of home buying season -Lack of buyer confidence, concern about values, tough qualifying standards FHFA Home Price Index (June)
GDP: – Final 1Q2011 1.9% vs. 3.1% for 4Q2010 – Imports up sharply, exports slowed – Consumer spending slowed, partly from slowdown in autos/parts – Government spending fell much more than in 4Q – Decline in federal spending (mainly defense) largest since 1Q2000 – Decline in state and local spending largest since 2Q1981 – Business
Mortgage Bankers Association Mortgage Applications: – Purchase Index – Week/Week Change +1.5 % – Refinance Index – Week/Week Change +0.9 % – Composite Index – Week/Week Change +1.1 % Home Prices: FHFA House Price Index was -0.3% in March (these are prices on homes that have loans backed by Fannie & Freddie) Durable Goods Orders:
Bonds and especially oil are trading wildly today as markets sort through mixed data. Both are generally up as the Libya situation unfolds, and when bond prices rise on a rally, rates drop. As for oil, was as high as $103 today and now more like $97. Below are the data releases from today: jobs
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