Close

March 6, 2013

Mortgage Applications Recover from 3 Week Hangover

March 6, 2013

Mortgage Applications Recover from 3 Week Hangover

ADP Private Jobs (February 2013)
– Private Jobs were +198,000. 

– Previous was revised upward by 23,000 to +215,000.

– This would seem to indicate a BLS report a bit higher than it was last month (+157,000).  Jobs are still being added barely above the rate needed to keep the labor participation rate constant with a growing population.

– Here’s the full February ADP report, and below are a couple select charts, including one that compares ADP jobs data to the official BLS jobs data. The BLS jobs report is Friday.

ADP_vs_BLS

MBA Mortgage Applications (week ended 3/1/2013)

– Purchase Index  Week/Week +15.0%. Previous was -5.0%

– Refinance Index  Week/Week +15.0%. Previous was -3.0%

– Composite Index  Week/Week  +14.8% Previous was -3.8%.

– These solid gains come after 3 weeks of declines.

Factory Orders (January 2013)
– Factory Orders Month/Month -2.0%. Previous was +1.3 (revised.)