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economic activity: Economic Update in Plain English ~ 3/5/2012 - 03/05/12 05:42 AM
Last Week in the News
Pending home sales, a forward-looking indicator based on signed contracts, rose 2% in January after a revised 1.9% decrease in December. It was the highest reading since April 2010. On a year-over-year basis, pending home sales are up 8%.
Orders for durable goods — items expected to last three or more years — fell $8.6 billion or 4% to $206.1 billion in January. Economists had anticipated a 0.7% decrease. This follows a 3.2% increase in December. Excluding volatile transportation-related goods, orders posted a monthly decrease of 3.2%.
The Standard & Poor's/Case-Shiller 20-city housing price index — … (1 comments)
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economic activity: Economic Update in Plain English ~ 10/3/2011 - 10/03/11 09:36 AM
Written By Prospect Mortgage
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economic activity: Economic Update in Plain English ~ 5/23/2011 - 05/23/11 12:49 PM
Last Week in the News
The National Association of Home Builders/Wells Fargo monthly housing market index was unchanged in May at 16. An index reading below 50 indicates negative sentiment about the housing market.
The combined construction of new single-family homes and apartments in April fell 10.6% to a seasonally adjusted annual rate of 523,000 units. Single-family starts decreased 5.1%. Multifamily starts fell 24.1%. Applications for new building permits, seen as an indicator of future activity, fell 4% to an annual rate of 551,000 units.
Industrial production at the nation's factories, mines and utilities was unchanged in April, following a … (1 comments)
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economic activity: Economic Update, Re-cap in Plain English 4/25/2011 - 04/25/11 10:30 AM
Last Week in the News
The Mortgage Bankers Association said its seasonally adjusted composite index of mortgage applications for the week ending April 15 rose 5.3%. Refinancing applications increased 2.7%. Purchase volume rose 10%, its highest level since early December.
The combined construction of new single-family homes and apartments in March rose 7.2% to a seasonally adjusted annual rate of 549,000 units. Single-family starts increased 7.7%. Multifamily starts rose 5.8%. Applications for new building permits, seen as an indicator of future activity, rose 11.2% to an annual rate of 594,000 units.
Existing home sales rose 3.7% in March to a seasonally … (0 comments)
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economic activity: Economic Update, Re-cap in Plain English 2/14/2011 - 02/14/11 11:54 AM
Last Week in the News
Initial claims for unemployment benefits fell by 36,000 to 383,000 for the week ending February 5, the lowest level since early July 2008. Continuing claims for the week ending January 29 fell by 47,000 to 3.88 million.
Retail sales rose 2.2% for the week ending February 5, according to the ICSC-Goldman Sachs index. On a year-over-year basis, retailers saw sales increase 2.5%.
Wholesalers increased their inventories 1% in December, following a 0.2% drop in November. Sales at the wholesale level rose 0.4% in December after a 1.9% increase in November.
The trade deficit increased 5.9% to … (0 comments)
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economic activity: Economic Update - Re-cap In Plain English - February 7, 2011 - 02/08/11 07:01 AM
Last Week in the News
Initial claims for unemployment benefits fell by 42,000 to 415,000 for the week ending January 29. Continuing claims for the week ending January 22 fell by 84,000 to 3.9 million. The unemployment rate fell to 9% in January from 9.4% in December.
The Mortgage Bankers Association said its seasonally adjusted composite index of mortgage applications for the week ending January 28 rose 11.3%. Refinancing applications increased 11.7%. Purchase volume rose 9.5%.
The Institute for Supply Management reported that the monthly composite index of manufacturing activity rose to 60.8 in January after reaching a revised 58.5 in … (3 comments)
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economic activity: Economic Update - Re-Cap In Plain English 9/27/2010 - 09/27/10 12:48 PM
Last Week in the News
The National Association of Home Builders/Wells Fargo housing market index was unchanged in September at 13. An index reading below 50 indicates negative sentiment about the housing market.
The combined construction of new single-family homes and apartments in August rose 10.5% to a seasonally adjusted annual rate of 598,000 units. The increase was largely due to a boost in the construction of multi-family homes. Applications for new building permits, seen as an indicator of future activity, rose 1.8% to an annual rate of 569,000 units.
Existing home sales rose 7.6% in August to a … (0 comments)
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economic activity: Economic Update - Re-cap In Plain English ~ 08/08/2010 - 08/09/10 09:51 AM
Last Week in the News
The Institute for Supply Management reported that the monthly composite index of manufacturing activity was 55.5 in July after reaching 56.2 in June. A reading above 50 signals expansion. It was the 12th straight month of expansion.
Total construction spending rose 0.1% to $836 billion in June, following a downwardly revised $834.8 billion in May. Economists had anticipated a drop of 0.8% in June.
Factory orders fell 1.2% in June to a seasonally adjusted $406.4 billion. The decline was more than double the 0.5% economists had anticipated and follows a revised decrease of 1.8% in May.
… (0 comments)
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economic activity: Economic Update - Re-cap In Plain English ~ 07/26/2010 - 07/26/10 10:31 AM
Last Week in the News
The National Association of Home Builders/Wells Fargo housing market index fell two points in July to 14. Economists had anticipated a reading of 16. It was the lowest reading since April 2009. An index reading below 50 indicates negative sentiment about the housing market.
According to the ICSC-Goldman Sachs index, retail sales rose 1.4% for the week ending July 17. On a year-over-year basis, retailers saw sales increase 4.2%, the best showing in two months.
The combined construction of new single-family homes and apartments in June fell 5% to a seasonally adjusted annual rate of 549,000 … (0 comments)
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economic activity: Economic Update - Re-cap In Plain English ~ 07/19/2010 - 07/19/10 09:00 AM
Last Week in the News
The trade deficit increased 4.8% to $42.3 billion in May. It was the highest level since November 2008 and follows a $40.3 billion gap in April.
The Mortgage Bankers Association said its seasonally adjusted composite index of mortgage applications for the week ending July 9 decreased 2.9%. Refinancing applications fell 2.9%. Purchase volume fell 3.1%.
Retail sales fell 0.5% in June, after a revised 1.1% decline in May. Economists had anticipated retail sales to fall 0.2% in June.
Total business inventories rose 0.1% in May, following a 0.4% increase in April. Total business sales fell 0.9% … (1 comments)
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economic activity: Economic Update - Re-cap In Plain English ~ 07/12/2010 - 07/12/10 08:16 AM
Last Week in the News
The Institute for Supply Management reported that the monthly composite index of non-manufacturing activity fell to 53.8 in June from 55.4 in May. A reading above 50 signals expansion. It was the sixth consecutive month of growth. Economists had anticipated a reading of 55. The index hit a high of 67.7 in January 2004.
The Mortgage Bankers Association said its seasonally adjusted composite index of mortgage applications for the week ending July 2 increased 6.7%. Refinancing applications rose 9.2%. Purchase volume fell 2%.
According to the ICSC-Goldman Sachs index, retail sales rose 1% for the week … (0 comments)
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economic activity: Economic Update - Re-cap In Plain English ~ 06/07/2010 - 06/07/10 09:26 AM
Last Week in the News
The Institute for Supply Management reported that the monthly composite index of manufacturing activity was 59.7 in May, after reaching 60.4 in April. A reading above 50 signals expansion. It was the 10th straight month of expansion.
Total construction spending rose 2.7% to $869 billion in April, following an upwardly revised 0.4% rise in March. April's gain was the biggest since August 2000.
The National Association of Realtors reported that its pending home sales index, a forward-looking indicator based on signed contracts, rose 6% in April, after a revised 7.1% increase in March. On a year-over-year … (1 comments)
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economic activity: Economic Update - Re-cap In Plain English ~ 05/03/2010 - 05/03/10 10:38 AM
Last Week in the News
The Commerce Department announced that gross domestic product — the total output of goods and services produced in the U.S. — increased at an annual rate of 3.2% in the first quarter of 2010. Economists had expected a slightly larger 3.4% increase. This follows a 5.6% pace of growth in the fourth quarter of 2009, marking the best back-to-back performance since the second half of 2003.
According to the ICSC-Goldman Sachs index, retail sales rose 0.2% for the week ending April 24. It was the sixth consecutive gain. On a year-over-year basis, retailers saw sales increase … (0 comments)
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economic activity: Economic Update - Re-cap In Plain English ~ 04/19/2010 - 04/19/10 09:15 AM
Last Week in the News
The National Association of Home Builders/Wells Fargo housing market index rose four points in April to 19. Economists had anticipated a reading of 16. An index reading below 50 indicates negative sentiment about the housing market.
The combined construction of new single-family homes and apartments in March rose 1.6% to a seasonally adjusted annual rate of 626,000 units. Applications for new building permits, seen as an indicator of future activity, jumped 7.5% to an annual rate of 685,000 units.
Consumer prices rose a seasonally adjusted 0.1% in March, following a flat reading in February. On a … (2 comments)
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economic activity: Economic Update - Re-cap In Plain English ~ 04/12/2010 - 04/12/10 07:03 AM
Last Week in the News
The Institute for Supply Management reported the monthly index of non-manufacturing activity rose to 55.4 in March from 53 in February. A reading above 50 signals expansion. Economists had anticipated a reading of 53.3. The reading was the highest since May 2006.
The National Association of Realtors reported that its pending home sales index, a forward-looking indicator based on signed contracts, rose 8.2% in February after a revised 7.8% decrease in January. The February reading was the largest gain since October 2001.
According to the Federal Reserve, consumer credit debt fell in February by $11.5 billion, … (2 comments)
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economic activity: Economic Update - Re-cap In Plain English ~ 04/05/2010 - 04/05/10 08:06 AM
Last Week in the News
The Commerce Department reported that consumer spending rose $34.7 billion or 0.3% in February, matching what economists had anticipated. Personal income increased $1.2 billion or less than 0.1%.
The Standard & Poor’s/Case-Shiller 20-city housing price index rose a seasonally adjusted 0.3% in January. It was the eighth consecutive monthly gain and follows a 0.3% increase in December.
The consumer confidence index rose to 52.5 in March from a slightly revised 46.4 in February. Economists had anticipated a reading of 50. The index was benchmarked at 100 in 1985, a year chosen because it was neither a … (4 comments)
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economic activity: Economic Update - Re-cap In Plain English ~ 03/29/2010 - 03/29/10 09:16 AM
Last Week in the News
Existing home sales fell 0.6% in February to a seasonally adjusted annual rate of 5.02 million units from 5.05 million units in January. The inventory of unsold homes on the market rose 9.5% to 3.59 million, an 8.6-month supply at the current sales pace, up from a 7.8-month supply in January.
Orders for durable goods — items expected to last three or more years — rose 0.5% in February after a revised 3.9% increase in January. Excluding volatile transportation-related goods, orders posted a monthly increase of 0.9%.
New home sales fell 2.2% in February to a … (0 comments)
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economic activity: Economic Update - Re-cap In Plain English ~ 03/23/2010 - 03/22/10 08:52 AM
Last Week in the News
Industrial production at the nation’s factories, mines and utilities increased 0.1% in February, following a 0.9% gain in January. It was the eighth consecutive monthly increase. The overall factory-operating rate rose to 72.7% of capacity in February from 72.6% in January.
The National Association of Home Builders/Wells Fargo housing market index fell two points in March to 15. Economists had anticipated a reading of 17. An index reading below 50 indicates negative sentiment about the housing market. The last time the index was above 50 was in April 2006.
The combined construction of new single-family homes … (0 comments)
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economic activity: Economic Update - Re-cap In Plain English ~ 03/8/2010 - 03/08/10 11:09 AM
Last Week in the News
Consumer spending rose 0.5% to $52.4 billion in January, slightly more than economists had anticipated. Personal income increased 0.1% to $11.4 billion.
The Institute for Supply Management reported that the monthly index of manufacturing activity was 56.5 in February after reaching 58.4 in January. Nevertheless, it was the seventh straight month of expansion. A reading above 50 signals expansion.
The Commerce Department reported that total construction spending fell 0.6% in January after falling 1.2% in December. Economists had expected a decrease of 0.7%.
The Mortgage Bankers Association said its seasonally adjusted index of mortgage applications for … (0 comments)
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economic activity: Interpreting Housing Economic Indicators - 02/24/10 09:20 AM
Analysts, policy makers and investors closely follow economic indicators that track the condition of the housing market. Here's some background information on these important indicators.
Housing StartsHousing starts is considered the most important report on the housing sector due to its large ripple effect in the economy when buyers purchase appliances and household furnishings. Construction of single-family homes accounts for about 85% of the industry. Work on multi-family units makes up the rest of the market and is considered highly volatile.
Home SalesNew homes sales account for less than 10% of the market. They are tabulated when the contract is … (1 comments)
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Julie Chroust, NMLS# 249458, Direct Lender & Mortgage Banker
Walnut Creek,
CA
More about me…
Julie Chroust, Prospect Mortgage, Walnut Creek, CA
Address: 1910 Olympic Blvd,, Suite 120, Walnut Creek, CA, 94596
Office Phone: (925) 516-5809
Cell Phone: (925) 381-1481
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