2009-01-22 USER

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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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MBA Purchasing Applications (Jan 16)

Survey n/a
Actual 303.10
Prior 295.10
Revised n/a

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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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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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Building Permits (Dec)

Survey 600K
Actual 549K
Prior 616K
Revised 615K

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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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Continuing Claims (Jan 10)

Survey 4534K
Actual 4607K
Prior 4497K
Revised 4510K

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Jobless Claims ALLX (Jan 17)

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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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House Price Index YoY (Nov)

Survey n/a
Actual -8.7%
Prior -7.6%
Revised n/a

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House Price Index ALLX (Nov)


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