Free Markets, Free People
Economic Statistics for 25 Jan 12
Today’s economic statistics are all about housing:
After last week’s huge rise, the MBA is reporting a sharp pullback on mortgage applications. The composite index fell -5% last week, with the purchase index off -5.4% and refinance index down -5.2%.
FHFA reports house prices rebounded a bit, up 1% for the month, but still down -1.8% compared to last year.
The Pending Home Sales Index fell to 96.6 from 100.1 this month. Pending home sales volume is down -3.5%.