Mortgage Bankers Association Purchase Index SA (Feb 1)
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)
Cranking them out as fast as the remaining mortgage banking staff can handle them.
Nonfarm Productivity(4Q P)
This means more output than expected for the same workforce.
Unit Labor Costs (4Q P)
Goes hand in hand with productivity- looks like business has this under control – supports good Q4 profitability.