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MOSLER'S LAW: There is no financial crisis so deep that a sufficiently large tax cut or spending increase cannot deal with it.

Archive for March 19th, 2008

2008-03-19 US Economic Releases

Posted by WARREN MOSLER on 19th March 2008

2008-03-19 MBAVPRCH Index

MBAVPRCH Index (Mar 14)

Survey n/a
Actual 365.0
Prior 368.8
Revised n/a

Leveling off at 2003 levels, which corresponds to housing starts well over 1.5 million.

Also, this is a seasonally adjusted number, so as it stays level at current levels it corresponds to the typical spring increases in sales.

Still way above recession levels of the past, and mtg bankers have lost market share to the banks as well.

2008-03-19 MBAVREFI Index

MBAVREFI Index (Mar 14)

Survey n/a
Actual 2335.0
Prior 2448.2
Revised n/a

Refi activity remains moderate.

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