Housing Archive

Housing starts, Mtg purch apps

Looks to have stopped growing about 10 months ago: Remains seriously depressed: MBA Mortgage Applications ...Read More

Apartment market tightness, Euro area trade surplus, Spain

This just keeps going up, which fundamentally tends to drive up the euro which tends to continue to be subject to said upward pressure until the trade picture reverses: Euro Area Balance of Trade The Eurozone trade surplus increased to €23.6 billion in November of 2015 compared to a €20.2 billion surplus ...Read More

Mtg purchase apps, China trade

Lots of up and down right now. The chart indicates purchase apps may be up a bit but still depressed historically. MBA Mortgage Applications Highlights The new year is seeing a surge in mortgage activity reflecting a strong jobs market and low rates, according to the Mortgage Bankers Association’s weekly report. Purchase ...Read More

Saudi pricing, Mtg purchase apps, ADP, Trade, Factory orders, ISM non manufacturing

Saudi discounts for February. Some reduced, some increased, so probably more same- prices fall until Saudi output hits its capacity: Zig zagging a lot recently, now back down to where they’ve been for a while: MBA Mortgage Applications Highlights Mortgage application activity fell sharply in the two weeks ended January 1, down ...Read More

Mtg purchase apps, Durable goods orders, New home sales, Personal income and outlays, Chemicals Activity Barometer

Up some this week. Been bouncing around a lot with looming Fed hike, regulation changes, etc. but mtg apps and home sales remain depressed: More bad here: Durable Goods Orders Highlights October was a rare good month for the factory sector, not November where manufacturing production in the industrial production report was ...Read More

Oil prices, Existing home sales chart

This means ‘the swamp has been drained’ and falling production has eliminated the trapped oil in Cushing that caused WTI to be at a discount to Brent. In fact, Brent should trade at a discount to WTI when the shortage is fully eliminated, reflecting transportation costs to the US. This, however, does ...Read More

GDP, existing home sales, Richmond Fed

Not so good since oil capex collapsed about a year ago: GDP Highlights A downward revision to inventories pulled down the third revision to third-quarter GDP, coming in at an annualized and expected rate of 2.0 percent. Revised inventory growth, at $85.5 billion vs an initial $90.2 billion, was the most negative ...Read More

Mtg prch apps, Housing starts, Industrial production, Euro trade

Yes, up vs last year’s dip, but remain depressed and have been heading south since early this year: MBA Mortgage Applications Highlights Application activity was little changed in the December 11 week, up 1 percent for refinancing and down 3.0 percent for home purchases. Year-on-year, purchase applications remain very high, up 34 ...Read More

CPI, Empire survey, Redbook retail sales, Housing index

One of the Fed’s mandates. The ‘headline’ number is below target due to the energy impulse, but the ‘core’ rate, led by services, is on target. The question is whether energy prices, if they remain at current levels, will ‘pull down’ other prices. And the comparisons with last year are now vs ...Read More

Mtg apps, US wholesale trade

Maybe up from a year ago, but for the last several months flat to down and still at depressed levels: United States : MBA Mortgage Applications Highlights The purchase index was little changed in the December 4 week, up 0.04 percent to an unusual second decimal place as published by the Mortgage ...Read More