The Site of Economist Warren Mosler
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![2009-01-22 MBA Mortgage Applications](https://moslereconomics.com/wp-content/graphs/2009/01/2009-01-22-mba-mortgage-applications-small.gif)
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MBA Mortgage Applications (Jan 16)
Survey |
n/a |
Actual |
-9.8% |
Prior |
15.8% |
Revised |
n/a |
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![2009-01-22 MBA Purchasing Applications](https://moslereconomics.com/wp-content/graphs/2009/01/2009-01-22-mba-purchasing-applications-small.gif)
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MBA Purchasing Applications (Jan 16)
Survey |
n/a |
Actual |
303.10 |
Prior |
295.10 |
Revised |
n/a |
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![2009-01-22 MBA Refinancing Applications](https://moslereconomics.com/wp-content/graphs/2009/01/2009-01-22-mba-refinancing-applications-small.gif)
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MBA Refinancing Applications (Jan 16)
Survey |
n/a |
Actual |
6491.80 |
Prior |
7414.10 |
Revised |
n/a |
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![2009-01-22 Housing Starts](https://moslereconomics.com/wp-content/graphs/2009/01/2009-01-22-housing-starts-small.gif)
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Housing Starts (Dec)
Survey |
605K |
Actual |
550K |
Prior |
625K |
Revised |
651K |
Karim writes:
- Housing starts fell 16% in December and building permits fell 10.7%, and both to all-time lows in nominal terms.
- These numbers indicate that housing will be a drag on the economy in terms of GDP accounting at least through year-end.
- The level of starts consistent with new household formation (and adjusting for obsolescence of the existing housing stock) is about 1.25mm.
- But what the current level of starts of 550k does not reflect is the record level of vacant homes (about 1mm more than the 1985-2005 average).
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![2009-01-22 Building Permits](https://moslereconomics.com/wp-content/graphs/2009/01/2009-01-22-building-permits-small.gif)
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Building Permits (Dec)
Survey |
600K |
Actual |
549K |
Prior |
616K |
Revised |
615K |
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![2009-01-22 Initial Jobless Claims](https://moslereconomics.com/wp-content/graphs/2009/01/2009-01-22-initial-jobless-claims-small.gif)
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Initial Jobless Claims (Jan 17)
Survey |
543K |
Actual |
589K |
Prior |
524K |
Revised |
527K |
Karim writes:
- Initial claims jumped 62k to 589k, and continuing claims by 93k to 4607k.
- Both are new highs for the current cycle and the highest since 1982.
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![2009-01-22 Continuing Claims](https://moslereconomics.com/wp-content/graphs/2009/01/2009-01-22-continuing-claims-small.gif)
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Continuing Claims (Jan 10)
Survey |
4534K |
Actual |
4607K |
Prior |
4497K |
Revised |
4510K |
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![2009-01-22 Jobless Claims ALLX](https://moslereconomics.com/wp-content/graphs/2009/01/2009-01-22-jobless-claims-allx-small.gif)
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Jobless Claims ALLX (Jan 17)
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![2009-01-22 House Price Index MoM](https://moslereconomics.com/wp-content/graphs/2009/01/2009-01-22-house-price-index-mom-small.gif)
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House Price Index MoM (Nov)
Survey |
-1.2% |
Actual |
-1.8% |
Prior |
-1.1% |
Revised |
n/a |
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![2009-01-22 House Price Index YoY](https://moslereconomics.com/wp-content/graphs/2009/01/2009-01-22-house-price-index-yoy-small.gif)
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House Price Index YoY (Nov)
Survey |
n/a |
Actual |
-8.7% |
Prior |
-7.6% |
Revised |
n/a |
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![2009-01-22 House Price Index ALLX](https://moslereconomics.com/wp-content/graphs/2009/01/2009-01-22-house-price-index-allx-small.gif)
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House Price Index ALLX (Nov)
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