Free Markets, Free People
Economic Statistics for 28 Sep 11
Today’s economic statistical releases:
Last week, mortgage rates dropped, and the Fed announced a switch to longer term treasuries. This sparked a rush of refinancing, as well as new mortgage applications. The Mortgage Bankers Association reports that mortgage applications rose by 9.3%, led by a 11.2% rise in re-fis, and a 2.1% increase in purchases.
Durable goods order fell –0.1% last month, both overall and ex-transportation, though they were still 12.3% higher than last year.