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Tuesday: New Home Sales, Richmond Fed Mfg

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Tuesday: New Home Sales, Richmond Fed Mfg

From Matthew Graham at Mortgage News Daily: Mortgage Rates Modestly Higher to Start The Week Mortgage rates were higher again on Monday, but just barely. The average lender was still in worse shape on Tuesday or Wednesday of last week when rates were the highest they’d been in about a month. [30YR FIXED -...
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Schedule for Week of April 21, 2019

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Schedule for Week of April 21, 2019

The key reports this week are the advance estimate of Q1 GDP, and March New and Existing Home Sales. For manufacturing, the April Richmond and Kansas City manufacturing surveys will be released. —– Monday, Apr 22nd —–8:30 AM ET: Chicago Fed National Activity Index for March. This is a composite index of other data....
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NMHC: Apartment Market Tightness Index Increased in April

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NMHC: Apartment Market Tightness Index Increased in April

The National Multifamily Housing Council (NMHC) released their April report: April NMHC Quarterly Survey Highlights Continued Strength of the Apartment Market he apartment market showed signs of strengthening in the National Multifamily Housing Council’s Quarterly Survey of Apartment Market Conditions for April 2019. The Market Tightness (52), Equity Financing (53), and Debt Financing (81)...
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CAR: “California home sales moderate in March”

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CAR: “California home sales moderate in March”

The CAR reported: California home sales, median price moderate in March, C.A.R. reports The lowest interest rates in more than a year boosted California’s housing market and kept home sales level in March after an exceptionally strong performance the previous month, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) said today. Closed escrow sales of existing,...
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LA area Port Traffic Down Year-over-year in March

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LA area Port Traffic Down Year-over-year in March

Special note: The expansion to the Panama Canal was completed in 2016 (As I noted two years ago), and some of the traffic that used the ports of Los Angeles and Long Beach is probably going through the canal. This might be impacting TEUs on the West Coast. Container traffic gives us an idea...
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Housing and Recessions

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Housing and Recessions

Following the recent bounce back in some of the housing reports, I’d like to update a couple of graphs. For the economy, what we should be focused on are single family starts and new home sales. As I noted in Investment and Recessions “New Home Sales appears to be an excellent leading indicator, and...
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MBA: Mortgage Purchase Applications up 13% YoY

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MBA: Mortgage Purchase Applications up 13% YoY

From the MBA: Mortgage Applications Decrease in Latest MBA Weekly Survey Mortgage applications decreased 5.6 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending April 5, 2019. … The Refinance Index decreased 11 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 April 7, 2019 Monday:• No major economic releases scheduled. From CNBC: Pre-Market Data and Bloomberg futures: S&P 500 are unchanged and DOW futures are up 40 (fair value). Oil prices were up over the last week with WTI futures at .08 per barrel and Brent at .34 per barrel. ...
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BEA: March Vehicles Sales at 17.5 Million SAAR

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BEA: March Vehicles Sales at 17.5 Million SAAR

The BEA released their estimate of March vehicle sales. The BEA estimated sales of 17.48 million SAAR in March 2019 (Seasonally Adjusted Annual Rate), up 5.7% from the February sales rate, and up 1.4% from March 2018. With the strong sales in March, 2019 is averaging 16.9 million (average of seasonally adjusted rate), just...
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Tuesday: Vehicle Sales, Durable Goods and More

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Tuesday: Vehicle Sales, Durable Goods and More

From Matthew Graham at Mortgage News Daily: Mortgage Rates Surge 0.125% Higher Mortgage rates spiked quickly today, capping a 3-day run leading back up from the lowest levels in more than a year. Today’s move was by far the biggest and it leaves the average lender offering rates that are at least an eighth...
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