According to data from the Mortgage Bankers Association’s Weekly Mortgage Application Survey for the two weeks ending December 30th, the Market Composite Index (a measure of mortgage loan application volume) decreased 13.2% on a seasonally adjusted basis from two weeks earlier.
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Job Openings and Labor Turnover Summary for November 2022
On Wednesday, the US Bureau of Labor Statistics reported the Job Openings and Labor Turnover Summary (JOLTS) for November 2022. As of the last business day in November, the number of job openings edged slightly higher to 10.5 million from 10.3 million in October.
US Construction Spending in November Up Month-Over-Month and Year-Over-Year
The US Census Bureau reported that total construction spending during November 2022 was estimated at a seasonally adjusted annual rate of $1,807.5 billion, 0.2% above the revised October estimate of $1,803.2 billion. The November figure is 8.5% above the November 2021 estimate.
Homes for Sale Increase as Buyers Take More Time
Redfin reported on Thursday (12-29-22) that in the four-week period ending December 25th, the total number of homes for sale […]
30-Year Fixed Mortgage Rate Moves Higher
Freddie Mac has released its Primary Mortgage Market Survey® (PMMS) for the week ending December 29, 2022. The PMMS reports […]
US Weekly Jobless Claims for the Week Ending December 24th
The US Department of Labor is reporting that seasonally adjusted an additional 225,000 Americans made their initial filing for unemployment benefits during the week ending on Saturday, December 24, 2022. This is an increase of 9,000 from the previous week’s unrevised level of 216,000.
Pending Homes Sales Continued to Decline in November
The National Association of Realtors® (NAR) reported on Wednesday (12-28-22), that their Pending Homes Sales Index (PHSI) which is based […]
US Real GDP Increased at an Annual Rate of 3.2% in Q3, BEA Reports in Its “Third” Estimate
The Bureau of Economic Analysis released today its “third” estimate for 2022Q3 real gross domestic product (GDP). According to the report, US GDP increased at an annual rate of 3.2% in Q3, following declines of 0.6% in Q2 and 1.6% in Q1.
30-Year Fixed Mortgage Rate Declines for Sixth Consecutive Week
Freddie Mac has released its Primary Mortgage Market Survey® for the week ending December 22, 2022. The 30-year fixed-rate mortgage averaged 6.27%, down from last week when it averaged 6.31%. A year ago at this time, the 30-year rate averaged 3.05%.
US Leading Economic Index® Declines Again in November, The Conference Board Reports
The Conference Board Leading Economic Index® (LEI) for the US in November declined 1.0% in November to a reading of 113.5 (2016=100), following a 0.9% decline in October and a 0.5% drop in September. The LEI has dropped 3.7% over the six-month period from May to November.