2008-02-06 MBAVPRCH Index SA

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.

2008-02-06 MBAVREFI Index SA

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.

2008-02-06 Nonfarm Productivity

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.

2008-02-06 Unit Labor Costs

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.