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Purchase Applications down 14% year/year.

Wednesday, October 5, 2016 7:39
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(Before It's News)

MBA Mortgage Applications (week ended 9/30/2016)

– Purchase Index Week/Week -0.1%. Previous weeks were +1.0%, -7.0%, +9.0%, +1.0%, +1.0%, -0.3%, -4.0%, +3.0%, -2.0%, -3.0%, -2.0%, +0.0%, and +4.0%.
– Refinance Index Week/Week +5.0%. Previous weeks were -2.0%, -8.0%, +2.0%, +1.0%, +4.0%, -3.0%, +10.0%, -3.0%, -15.0%, -1.0%, +11.0%, +21.0%, and -2.0%.
– Composite Index Week/Week +2.9%. Previous weeks were -0.7%. -7.3%, +4.2%, +0.9%, +2.8%, -2.1%, +7.1%, -3.5%, -11.2%, -1.3%, +7.2%, and +14.2%.

Most telling is the fact that purchase applications were -14.0% year/year. This is a leading indicator of New and Existing Home Sales.

ADP Private Jobs (September 2016)

– Private Jobs 154,000. Previous was +170,000

Trade Deficit (August 2016)

– Trade Deficit $40.7 billion. Previous was $39.5 billion.

PMI Services Index (September 2016)

– Level 52.3. Previous was 51.0

ISM Non-Manufacturing Index (September 2016)

– Level 57.1. Previous was 51.4

Both PMI and ISM show strength in the Service Sector.

 
Factory Orders (August 2016)

– Factory Orders month/month +0.2%. Previous was +1.4%
The service sector is improving but manufacturing is weakening.



Source: http://thebasispoint.com/2016/10/05/purchase-applications-down-14-yearyear/

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