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Mortgage News from Julian Hebron

Data Limited and Inaccurate Recently.

Jobless Claims (week ended 10/12/1012) – New Claims 358,000. Previous was 373,000. – 4-week Moving Average 336,500 This data has been tainted recently by California’s inability to fix IT problems. Philadelphia Federal Survey (October 2013) – General Business Conditions Index 19.8.  Previous was 22.3. Not available are Housing Starts and Industrial Production.

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Slightly Weaker Housing Data.

MBA Mortgage Applications (Week ended 10/11/2013) – Purchase Index Week/Week -5.0%. Previous weeks were -1.0%, -6.0%, +7.0%, +3.0%, -3.0%, -0.4%, +2.0%, +1.0%, -5.0%, +1.0%, -3.0%, and -2.0%. – Refinance Index Week/Week +3.0%. Previous weeks were +3.0%, +3.0%, +5.0%, +18%, -20%, +2.0%, -5.0%, -8.0%, -4.0%, +0.0%, and -4.0%. – Composite Index Week/Week +0.3%.  Previous weeks were […]

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Retail and Manufacturing in New York Weaker.

ICSC-Goldman Store Sales (week ended 10/12/2013) – Store Sales Week/week -0.7%. Previous was -0.1%. – Store Sales Year/Year +1.0%. Previous was +1.8% Redbook (week ended 10/12/2013) – Store Sales Year/Year +3.2%. Previous was +3.3% These indicate weak retail and weak GDP growth. Empire State Manufacturing Survey (October 2013) – General Business Conditions Index 1.52.  Previous […]

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Garbage Data or no Data. Take Your Pick.

Initial Jobless Claims (week ended 10/5/2013) – New Claims 374,000 (seasonally adjusted.) Previous was 308,999. – 4-week Moving Average 325,000. Previous was 305,000. – Unadjusted Claims totaled 336,849 in the week ending October 5, an increase of 84,616 from the previous week. The data continues to be useless.  This is caused by what has for […]

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Rates Lower yet Mortgage Applications Flat.

MBA Mortgage Applications (Week ended 9/27/2013) – Purchase Index Week/Week -1.0%. Previous weeks were -6.0%, +7.0%, +3.0%, -3.0%, -0.4%, +2.0%, +1.0%, -5.0%, +1.0%, -3.0%, and -2.0%. – Refinance Index Week/Week +3.0%. Previous weeks were +3.0%, +5.0%, +18%, -20%, +2.0%, -5.0%, -8.0%, -4.0%, +0.0%, and -4.0%. – Composite Index Week/Week +1.3%.  Previous weeks were 0.4%, +5.5%, […]

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Retail Disappoints.

NFIB Small Business Optimism Index  (September 2013) – Index level 93.9.  Previous was 94.1. This is a survey index compiled each month by the National Federation of Independent Business (NFIB). ICSC-Goldman Store Sales (Week ended 10/5/2013) – Store Sales Week/Week 0.2 %-0.1%. Previous was +0.2% – Store Sales Year/Year 1.8%. Previous was +2.1% Redbook (Week […]

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Consumer Credit

Consumer Credit (August 2013) – Consumer Credit month/month was +$13.6 billion. Credit card debt was  down$0.9 billion.  This is the 3rd consecutive drop in credit card debt and not a good sign for retail and GDP.  The increases in credit are in auto and student loans.

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