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Tuesday: New Home Sales

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Tuesday: New Home Sales

From Matthew Graham at Mortgage News Daily: Low and Sideways, Mortgage Rates Play Waiting Game Mortgage rates were slightly higher for the 3rd straight day, continuing a modest bounce back from the year’s lowest rates last Wednesday. … While the general movement in rates has been slightly higher, it hasn’t lifted rates much above 2017′s lows....
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Schedule for Week of May 21, 2017

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Schedule for Week of May 21, 2017

The key economic reports this week are April New and Existing Home sales, and the second estimate of Q1 GDP. —– Monday, May 22nd —–8:30 AM: Chicago Fed National Activity Index for April. This is a composite index of other data. —– Tuesday, May 23rd —–10:00 AM ET: New Home Sales for April from the...
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Sacramento Housing in April: Sales down 3%, Active Inventory down 16% YoY

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Sacramento Housing in April: Sales down 3%, Active Inventory down 16% YoY

During the recession, I started following the Sacramento market to look for changes in the mix of houses sold (equity, REOs, and short sales). For several years, not much changed. But in 2012 and 2013, we saw some significant changes with a dramatic shift from distressed sales to more normal equity sales. This data...
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MBA: Mortgage Delinquencies Decreased in Q1, Foreclosures Decreased

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MBA: Mortgage Delinquencies Decreased in Q1, Foreclosures Decreased

From the MBA: Delinquencies Decline in Latest MBA Mortgage Delinquency Survey The delinquency rate for mortgage loans on one- to four-unit residential properties decreased to a seasonally adjusted rate of 4.71 percent of all loans outstanding at the end of the first quarter of 2017.  The delinquency rate was down nine basis points from...
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Schedule for Week of May 14, 2017

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Schedule for Week of May 14, 2017

The key economic report this week is April Housing Starts. For manufacturing, April industrial production, and the May New York, and Philly Fed manufacturing surveys, will be released this week. —– Monday, May 15th —–8:30 AM ET: The New York Fed Empire State manufacturing survey for May. The consensus is for a reading of 7.0, up from...
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Retail Sales increased 0.4% in April

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Retail Sales increased 0.4% in April

On a monthly basis, retail sales increased 0.4 percent from March to April (seasonally adjusted), and sales were up 4.5 percent from April 2016. From the Census Bureau report: Advance estimates of U.S. retail and food services sales for April 2017, adjusted for seasonal variation and holiday and trading-day differences, but not for price...
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MBA: Mortgage “Mortgage Applications Increase in Latest Weekly Survey”

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MBA: Mortgage “Mortgage Applications Increase in Latest Weekly Survey”

From the MBA: Mortgage Applications Increase in Latest MBA Weekly Survey Mortgage applications increased 2.4 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending May 5, 2017. … The Refinance Index increased 3 percent from the previous week. The seasonally adjusted...
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Sunday Night Futures

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Sunday Night Futures

Weekend:• Schedule for Week of May 7, 2017 Monday:• At 10:00 AM ET, the Fed will release the monthly Labor Market Conditions Index (LMCI). From CNBC: Pre-Market Data and Bloomberg futures: S&P futures and DOW futures are up slightly (fair value). Oil prices were down over the last week with WTI futures at .90 per barrel...
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Oil: Slower Growth for Rig Count

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Oil: Slower Growth for Rig Count

A few comments from Steven Kopits of Princeton Energy Advisors LLC on May 5, 2017: • Total US oil rigs added 6 to 703, all of it in the Permian • US horizontal oil rigs were up 6 to 598, tied for the second smallest gain since late January • Morgan Stanley, among other...
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Thursday: Unemployment Claims, Trade Deficit

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Thursday: Unemployment Claims, Trade Deficit

From Merrill Lynch on FOMC announcement: The FOMC communicated today a lack of concern about the recent slowdown in economic data, describing it as “transitory” while “the fundamentals underpinning the continued growth of consumption remained solid”. Not surprisingly then the statement was interpreted as hawkish relative to market expectations, as the Treasury curve bear...
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