All Paper Economy
Home prices continue to slumpAs of February, prices have dropped 4.43 percent below the level seen in February 2011, slumping through the winter months
Unemployment claims fall to a four-year lowInitial jobless claims聽 declined to 357,000 claims from last week鈥檚 revised 363,000 claims, while seasonally adjusted 鈥渃ontinued鈥� claims declined by 16,000 resulting in an 鈥渋nsured鈥� unemployment rate of 2.6 percent.
Non-manufacturing business activity down in MarchThe business activity index declined 5.91% since February but remained 0.51% above the level seen a year earlier.
Private employers added 209,000 jobs in MarchPrivate employers added 209,000 jobs in March, bringing the total employment level 1.75 percent above the level seen in March 2011
30-year mortgage rates drop to 4.03 percentThe average rate for a 30 year fixed rate mortgage declined 7 basis points to 4.03 percent since last week while the purchase application volume increased 7.2 percent and the refinance application climbed 4.0 percent over the same period.
Food stamp use down in JanuaryIn January, 64,307 recipients were removed from the food stamps program, but participation continues to rise on a year over year basis.
Kansas City Fed reports decreased manufacturingReports from the Federal Reserve Bank of Kansas City are indicating that manufacturing activity declined to a weak growth level of 9 in March.听
Construction spending goes flatOn a month-to-month basis, total residential spending increased a slight 0.03 percent from January and rose 5.59 percent above the level seen in February 2011, while remaining a whopping 63.56 percent below the peak level seen in 2006.
GDP report: US economy is expandingThe economy may be growing at a faster rate than initially thought, with the real GDP expanding at聽 an annualized rate of 3 percent from the third quarter of 2011.
Jobless claims continue to fallInitial jobless claims declined to 359,000 claims from last week鈥檚 revised 364,000 claims, while seasonally adjusted 鈥渃ontinued鈥� claims declined by 41,000 resulting in an 鈥渋nsured鈥� unemployment rate of 2.6 percent.
30-year mortgage rates up to 4.10 percentThe average rate for a 30 year fixed rate mortgage increased 4 basis points to 4.10% since last week, while the purchase application volume increased 3.3 percent and the refinance application dropped 4.6% over the same period.
Home prices down in JanuaryThe home price price index declined 0.83 percent since December while the Composite-20 index declined 0.84 percent聽 over the same period resulting in the lowest level seen to on the Composite-10 since June 2003 and the largest peak decline seen since the nearly six year old housing bust began in 2006.
Pending home sales slightly down in February, but up since 2011Pending home sales declined a bit with the seasonally adjusted national index, falling 0.5 percent since January while increasing 9.2 percent above the level seen in February 2011.
New home sales down in FebruaryNew residential home sales dropped 1.57 percent since January but rose 11.4 percent聽 above the level seen in February of last year.
Jobless claims drop lower and lowerInitial jobless claims聽 declined to 348,000 claims from last week鈥檚 revised 353,000 claims, while continued claims declined by 9,000 resulting in an 'insured' unemployment rate of 2.6 percent
Existing home sales down in FebruarySingle family home sales declined 1.0 percent from January but rose 9.4 percent above the level seen in February 2011.
Mortgage rates climb. Really?The average rate for a 30 year fixed rate mortgage jumped 12 basis points to 4.06 percent since last week, while the purchase application volume declined 1.0 percent and the refinance application dropped 9.3 percent over the same period.
Housing permits jump, but housing starts plummetSingle family housing permits increased a whopping 4.9 percent from last month to 472,000 single family units, but single family housing starts plunged 9.86 percent to 457,000 units.
Housing market goes flat; shows signs of progressThe latest Housing Market Index (HMI) shows a flattening of most measures in March with the composite HMI index remaining unchanged at 28. The "buyer traffic" index stayed put at 22.
Mortgage rates still fallingThe average rate for a 30 year fixed rate mortgage declined 3 basis points to 3.94 percent since last week while the purchase application volume increased 4.4 percent and the refinance application declined 4.10 percent over the same period.
