It is a good thing investors will have the entire weekend to recover from their New Year’s celebrations, because 2010 is starting with a bang, at least in terms of economic data. Undoubtedly, the week’s most critical release will be Friday’s employment report, where excitement is building that payrolls could show their first monthly advance […]
Archive:
MBA Mortgage Applications
The last week of 2009 bears some good news for investors, and that is there isn’t much of it. The week ahead could very well be the quietest week of 2009. However, not all is still, there are several quasi-important releases related to housing, consumer confidence, and manufacturing. Data-centric investors will be analyzing the Dallas […]
Retailers are not dreaming of a white Christmas. Whether a snowstorm impacting the Mid-Atlantic region this weekend will impact an arguably lackluster holiday shopping season is yet to be seen. But, bad weather does have a tendency of keeping would be shoppers home, however, these shoppers will still have access to online stores, but given […]
There is no doubt that this week’s FOMC meeting will steal the economic headlines, however, the result is likely to be rather anticlimactic. I do not anticipate any major changes to the FOMC’s statement, and certainly no shift in the target rate—despite last month’s better than expected employment data. The Fed will not view a […]
This week is relatively quiet on the economic front, following last week’s tsunami of data culminating in a much better than anticipated employment release. This week’s theme is the consumers, who have the potential to stymie last week’s positive sentiment depending on sales strength during the Black Friday shopping weekend. The week’s primary release will […]
October’s Housing Starts disappointed the market finishing at an annual rate of 529,000 (-10.6%), while September’s release was revised up to 592K from 590K. Permit’s in October declined -4.0%, to 552K. Single-family starts fell -6.8%, while multi-family homes plummeted by -34.6%. The Bloomberg consensus forecast was for starts at 600K, with forecasts ranging from 570K […]
The MBA’s mortgage application index rose 3.2% on a seasonally adjusted basis the week prior to November 6. The week’s positive performance was derived entirely from the refinance index, which rose 11.3%, while the purchase index dropped -11.7%–reaching its lowest level since December 2000. A wave of buyers, filling out multiple mortgage applications, that were […]
The second full week in November brings with it not only a federal holiday on Wednesday, but a relatively quiet week on the data front. The week’s potentially most interesting piece of data—the Fed’s Senior Loan Officer Survey—has no official release date, however, looking back the report is typically published early in the week following […]