The following statistics were released today on the state of the US economy:

MBA Purchase Applications slipped -2.4% for the week, as purchase apps declined by -0.5% and refinance apps fell by -3.1%.

Export prices rose 0.8% for the month, and were 0.9% higher for the year. Import prices rose 1.3% for the month, and were 3.4% higher than a year ago.

UPDATE: The Fed’s Beige Book was released this afternoon. It reports the economy continued to grow at a "modest to moderate pace", but rising energy costs are a growing concern. The Beige Book is compiled as an overall look at economic conditions. It’s used by the Federal Open Markets Committee when setting interest rate policy at their meetings.

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Dale Franks
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