MBA Mortgage Applications (Dec 7)
| Survey | n/a |
| Actual | 2.5% |
| Prior | 22.5% |
| Revised | n/a |
Mortgage Bankers Association Purchasing Index SA
Looking very firm. Possible evidence housing may have bottomed.
Affordability is up with prices flat to down, rates down, and nominal income growing.
Yes, I’ve heard the stories about multiple applications, but even if relevant it’s been the case for several months.
Trade Balance (Oct)
| Survey | -$58.4B |
| Actual | -$57.8 |
| Prior | $-56.5B |
| Revised | -$58.1B |
Points to higher gross exports as oil prices were higher.
Import Trade Index MoM (Nov)
| Survey | 2.0% |
| Actual | 2.7% |
| Prior | 1.8% |
| Revised | 1.4% |
Import Trade Index YoY (Nov)
| Survey | 11.0% |
| Actual | 11.4% |
| Prior | 9.6% |
| Revised | 9.0% |
First a series of very high inflation numbers coming this week.
Monthly Budget Statement
| Survey | -$95.0 |
| Actual | -$98.2 |
| Prior | -$75.0 |
| Revised | n/a |
A 17 billion December 1 payment counted for November this year as it fell on a weekend; so, only about a 10 billion over last year. When this goes up in earnest, it is coincident with a slowdown. Watch this number closely!
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