U.S. Data

  • 2019-08-21 11:20


    By Alexandra Kelley

    WASHINGTON (MNI) - The pace of existing home sales rose by 2.5% to a 5.42 million annual rate in July, the National Association of Realtors said Wednesday, landing above the 5.40 million forecast by an MNI survey of analysts.

    NAR chief economist Lawrence Yun attributed the uptick to exceptionally low mortgage rates and a healthy labor market, but warned that recession fears may scare off potential buyers.

    "Generally, low rates stimulate buying activity, the jobs market remains strong, but there's increasing economic uncertainty. Given that home buying is a major expenditure, people may be hesitant to buy homes if they believe we're facing an economic recession," he told reporters.

  • 2019-08-14 07:00


    WASHINGTON (MNI) - The Mortgage Bankers Association Wednesday reported a second straight surge in mortgage activity in the August 9 week, with activity up 21.7% as mortgage rates decreased further.

    Here are some of the key features of the report:

    - The Refinance Index rose by 37% to the highest level since 2016, while the purchases index increased by 2%. It was still up 12% year/year before seasonal adjustment.

    - The 30-year average rate for a 30-year fixed mortgage fell to 3.93% in the current week from 4.01% in the previous week, hitting its lowest point since November 2016 due to continued concerns about an escalated trade war and global economic concerns, the MBA said.

  • 2019-08-07 07:00


    WASHINGTON (MNI) - The Mortgage Bankers Association Wednesday reported a large surge in mortgage activity in the August 2 week, with activity up 5.3% as mortgage rates decreased to a 2-1/2 year low.

    Here are some of the key features of the report:

    - The Refinance Index rose by 12% to the highest level since 2016, but the purchases index decreased by 2%. It was still up 7% year/year before seasonal adjustment.

    - The 30-year average rate for a 30-year fixed mortgage fell to 4.01% in the current week from 4.08% in the previous week.

  • 2019-08-02 10:08


    --New Orders Ex. Transportation Up 0.1%, Nondurables Down 0.5%
    --Factory Inventories Up 0.2%; Business Inventories Tracking +0.1%

    WASHINGTON (MNI) - The value of new factory orders rose by 0.6% in June, coming in below the 0.8% gain forecasted by analysts in an MNI survey and the 0.7% increase expected by the Bloomberg consensus, data released by the Department of Commerce Friday morning showed.

    Durable goods orders improved dramatically, climbing to a 1.9% increase following 2.3% decline in May. Durable goods orders were originally reported up 2.0%. Nondurable goods orders fell by 0.5% on petroleum and coal products, after falling 0.3% in May.

  • 2019-07-31 07:00


    WASHINGTON (MNI) - The Mortgage Bankers Association Wednesday reported a third straight decrease in mortgage activity in the July 26 week, with activity down 1.4% even as mortgage rates remained low.

    Here are some of the key features of the report:

    - The Refinance Index rose by 0.1%, but the Purchases Index fell by 3%. The unadjusted purchasing index was still up 6% from a year earlier.

    - The 30-year average rate for a 30-year fixed mortgage held steady at 4.08% in the current week.

    - MBA suggested that the decline in activity to its lowest point since March was due in part to inadequate supply.

    --MNI Washington Bureau; tel: +1 202-371-2121; email: kevin.kastner@marketnews.com

    [TOPICS: MAUDS$,M$U$$$,MK$$$$,M$$MO$]

  • 2019-07-24 07:00


    WASHINGTON (MNI) - The Mortgage Bankers Association Wednesday reported a further decrease in mortgage activity in the July 19 week, with activity down 1.9% even as mortgage rates decreased.

    Here are some of the key features of the report:

    - The Refinance Index fell by 2%, as did the Purchases Index.

    - The 30-year average rate for a 30-year fixed mortgage fell back to 4.08% in the current week from 4.12% in the previous week.

    - MBA suggested that the decline in activity at the same time that rates declined suggests that buyers are becoming less sensitive to interest rate declines.

    - The unadjusted purchasing index was up 6% from a year earlier.

  • 2019-07-17 07:00


    WASHINGTON (MNI) - The Mortgage Bankers Association Wednesday reported a further decrease in mortgage activity in the July 12 week, with activity down 1.1% as mortgage rates increased.

    Here are some of the key features of the report:

    - The Refinance Index rose by 2%, while the Purchase Index fell by 4% in the current week.

    - The 30-year average rate for a 30-year fixed mortgage fell further to 4.12% in the current week from 4.04% in the previous week.

    - MBA suggested that higher mortgage rates lowered applications, but noted that refinance activity rose further and that activity in general remain above their year-ago level.

    - The unadjusted purchasing index was up 7% from a year earlier.

  • 2019-07-10 10:12


    --May Wholesale Sales Up 0.1%; Inv/Sales Ratio Increase To 1.35
    --Business Inventories Tracking +0.3%, Sales +0.2%

    WASHINGTON (MNI) - May wholesale inventories increased by 0.4%, matching the gain expected by the both the Bloomberg and MNI surveys, while wholesale sales were up 0.1% in the month, data released by the U.S. Commerce Department Wednesday showed.

    Wholesale inventories had initially been reported as up 0.4% in the advance indictors report published last week.

    Factory inventories were already reported up 0.2% and the advance estimate of retail inventories was a 0.5% increase. Including today's data, business inventories are tracking at a 0.3% increase based on an MNI calculation.

  • 2019-07-10 07:00


    WASHINGTON (MNI) - The Mortgage Bankers Association Wednesday reported a slight decrease in mortgage activity in the July 5 week, with activity down 2.4% despite a further decline in mortgage rates.

    Here are some of the key features of the report:

    - The Refinance Index fell by 7%, while the Purchase Index rose by 2% in the current week. MBA said it made adjustment to account for the July 4th holiday.

    - The 30-year average rate for a 30-year fixed mortgage fell further to 4.04% in the current week from 4.07% in the previous week.

    - MBA said that the borrowers are becoming less sensitive to lower rates as many have already completed refis or new purchases in recent months.

    - The unadjusted purchasing index was up 6% from a year earlier.

  • 2019-07-03 10:01


    --New Orders Ex. Transportation Up 0.1%, Nondurables Down 0.2%
    --Factory Inventories Rise 0.2%; Business Inventories Tracking +0.4%

    WASHINGTON (MNI) - The value of new factory orders fell by 0.7% in May, as expected by analysts in an MNI survey and a slightly larger the 0.6% decrease expected by the Bloomberg consensus, data released by the Commerce Department Wednesday morning showed.

    Durable goods orders were unrevised from the previously reported 1.3% decrease. Nondurable goods orders fell 0.2% on petroleum and coal products.

    Here are the key findings from the release:

    - Factory orders excluding transportation were up 0.1% in the month.