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October 16, 2013

Slightly Weaker Housing Data.

October 16, 2013

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 +1.3%, 0.4%, +5.5%, +11.2%. -13.5%, +2.0%, -2.5%., -4.6%, -4.7%, +0.2%, -3.7%, and -1.2%.

FHA purchase loan may have been held down by the shutdown but there is weakness in the housing market.  Buying in the past year was buoyed by distressed sales at bargain prices.  That is no longer happening.

Housing Market Index  (October 2013)

– HMI 55.  Previous was 57.

This is about homebuilder confidence and declined from a rather strong reading.