Mortgage Bankers Association Purchase Index SA (Feb 1)
| Survey | n/a |
| Actual | 405.3 |
| Prior | 362.0 |
| Revised | n/a |
Wild January, even considering all year ends are volatile for this series – now back over 400, roughly the 2006 average.
Will take a few more weeks to see where it’s been and where it may be going.
If it holds over 400 it’s one sign housing may not be getting any worse. A move back down to the 350 level signals another move down in housing.
MBA Refinancing Index SA (Feb 1)
| Survey | n/a |
| Actual | 5054.0 |
| Prior | 5103.6 |
| Revised | n/a |
Cranking them out as fast as the remaining mortgage banking staff can handle them.
Nonfarm Productivity(4Q P)
| Survey | 0.5% |
| Actual | 1.8% |
| Prior | 6.3% |
| Revised | 6.0% |
This means more output than expected for the same workforce.
Unit Labor Costs (4Q P)
| Survey | 3.5% |
| Actual | 2.1% |
| Prior | -2.0% |
| Revised | -1.9% |
Goes hand in hand with productivity- looks like business has this under control – supports good Q4 profitability.
♥