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Office Vacancy Rate and Office Investment

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Office Vacancy Rate and Office Investment

Last week Reis reported the office vacancy rate was unchanged at 16.0% in Q2, from 16.0% in Q1. A key question is whether office investment will increase further (as a percent of GDP). The following graph shows the office vacancy rate and office investment as a percent of GDP. Note: Office investment also includes...
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Construction Spending unchanged in May

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Construction Spending unchanged in May

Earlier today, the Census Bureau reported that overall construction spending was unchanged in May: Construction spending during May 2017 was estimated at a seasonally adjusted annual rate of ,230.1 billion, nearly the same as the revised April estimate of ,230.4 billion. The May figure is 4.5 percent above the May 2016 estimate of ,177.0...
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Schedule for Week of July 2, 2017

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Schedule for Week of July 2, 2017

The key report this week is the June employment report on Friday. Other key indicators include the June ISM manufacturing and non-manufacturing indexes, June auto sales, and the May Trade Deficit. —– Monday, July 3rd —–10:00 AM: ISM Manufacturing Index for June. The consensus is for the ISM to be at 55.1, up from 54.9...
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Thursday: Unemployment Claims, GDP

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Thursday: Unemployment Claims, GDP

From Matthew Graham at Mortgage News Daily: Mortgage Rates Highest in More Than 2 Weeks Mortgage rates moved moderately higher again today, as investors continued digesting the possibility of a “taper tantrum” in Europe. …The average lender is once again quoting 4.0% on top tier conventional 30yr fixed scenarios.  Before today (and especially before yesterday), 3.875% was...
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Schedule for Week of June 25, 2017

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Schedule for Week of June 25, 2017

The key economic reports this week are Personal Income and Outlays for May, Case-Shiller house prices, and the third estimate of Q1 GDP. —– Monday, June 26th —–8:30 AM: Durable Goods Orders for May from the Census Bureau. The consensus is for a 0.4% decrease in durable goods orders. 8:30 AM: Chicago Fed National Activity Index...
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Wednesday: Existing Home Sales

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Wednesday: Existing Home Sales

From Matthew Graham at Mortgage News Daily: Rates Fall Slightly to Remain Near 8-Month Lows Mortgage rates were steady to slightly lower today, with underlying bond markets essentially erasing the damage seen yesterday.  This was neither here nor there for the mortgage world as most lenders didn’t adjust rates much higher yesterday (despite bond weakness).  Thus,...
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Schedule for Week of June 18, 2017

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Schedule for Week of June 18, 2017

The key economic reports this week are New and Existing Home sales for May. —– Monday, June 19th —–No major economic releases scheduled. —– Tuesday, June 20th —–No major economic releases scheduled. —– Wednesday, June 21st —–7:00 AM ET: The Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index. 10:00...
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Oil Rigs: “Smallest four week add since last year”

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Oil Rigs: “Smallest four week add since last year”

A few comments from Steven Kopits of Princeton Energy Advisors LLC on June 16, 2017: • The party’s over.  Oil prices are beginning to weigh on drilling activity. • Total US oil rigs were up 6 to 747 • However, only 1 new horizontal oil rig was added, and only 3 in the last...
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Sunday Night Futures

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Sunday Night Futures

Weekend:• Schedule for Week of June 18, 2017 From CNBC: Pre-Market Data and Bloomberg futures: S&P futures are up 6 and DOW futures are up 40 (fair value). Oil prices were down over the last week with WTI futures at .84 per barrel and Brent at .13 per barrel.  A year ago, WTI was...
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Lawler: Reasonable Population Projections Are Important!

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Lawler: Reasonable Population Projections Are Important!

From housing economist Tom Lawler: Reasonable Population Projections Are Important! One of the key variables analysts look at in attempting to project such things as housing demand, labor force growth, government “entitlement” spending, and a host of other key “macro” indicators is the projected population — not just (or even mainly) the total population,...
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