Headline News
Quicken loans home price Perception Index (PPIS): the gap between the opinions of the owner and appraiser value fell to 1.75 percent in January, marking the fifth consecutive month reduced the differences. The West had the smallest gap, with the overstatement of home owners by 1.48 percent. Meanwhile, the owners of a house in the South are ensuites to 1.71%. The Northeast is 1.98%, while the homeowners in the Midwest are disabled by 2.04% in their estimates. Owners of San Jose, CA continue to have houses more undervalued, to 4.79 percent under estimates of the evaluator. Owners of Philadelphia have an inflated opinion as their estimates of value are 3.64% higher than those of the evaluators. Miami is nearest at par with estimates just 0.16 percent lower view of the evaluators.
ready quicken home value Index (HVI): home values were down 0.42 percent in January, but they are still up 3.37% from last year. In the Midwest, home values were down 2.44 percent in December. It was followed by the Northeast, down 1.43 percent and the West which fell by 1.26 percent. The South was the only region to improve, up 1.14 percent for the month.
MBA mortgage applications: mortgage applications increased by 9.3 percent overall as refinancing increased by 16.0%. Purchases, which are less affected by fluctuations in the rate, increased only 0.2 percent. The average rate for a 30-year mortgage in line declined by six basis points to 3.91% last week.
unemployment insurance: Initial claims fell 16 000 and 269 000 last week. This was well below consensus for 281 000 claims estimates. The four-week average is down by 3,500, to settle at 281 250. Continuing claims also showed an improvement, down from 21 000 to 2.249 million. The four-week average fell to 6,000 for a total of 2,248 million.
the retail: retail sales rose 0.2 percent for the month of January. This number has been drawn down by the fall in gas prices. If you subscribe to gasoline prices, retail sales increased by 0.4% and 3.8% on the year. Cars also had a month strong when you exit automobiles, they are only + 0.1% on the month. Vehicle sales increased by 0.6 percent and 6.9 percent on the year. Sales of general merchandise increased by 0.8%. Nonstore retailers increased 1.6% in a good sign for e-commerce. And more depressing, restaurant sales dropped 0.5 percent in January to go along with a corresponding decline in the sale of furniture. Sporting goods are down 9.1 percent for the year.
the consumer confidence: the attitudes of consumers has worsened slightly as they reached 1.3 points to 0.7. However, it is still sitting close to the average for the four previous months. Current conditions is declining by 0.8 points to 105.8 points, but it is still strong. Expectations are down 1.7 points at 81.0. With regard to forecasts of inflation, the prospect of five years is 0.3% to 2.4%. Meanwhile, expectations of a year are evenly 2.5%.
new mortgages
mortgage rates declined again this week as turmoil has people to flood the bond market and to keep rates in all areas.
fixed mortgages 30 years (service) was an average of 3.65% with a means 0.5 point for the week ending February 11, 2016, down last week when they have an average of 3.72 percent. A year at the present time, 30 years service on average 3.69%.
15 years service this week on average 2.95% with means 0.5 point, down 3.01 percent last week. A year at the present time, 15 years service averaged 2.99 percent.
mortgage adjustable rate 5 year indexed Treasury hybrid (arm) averaged 2.83% this week with means 0.4 point, down last week when an average of 2.85%. A year ago, 5-year arm was an average of 2.97%.
stock market
Stocks rose Friday, ending the days of decline. This was partly caused by the fact that oil inventories have increased by more than 12%. It is at this point still low enough that the gas prices did not move too. It was $ 1.46 per gallon in a service station near my house in suburban Detroit this morning. My wallet is happy enough at the moment.
the Dow Jones Industrial Average exceeded 313,66 points Friday to close at 15,973.84. Despite the good finish, it was down 1.45 percent for the week. The & S P 500 fell 0.82% closing last Friday after completing the week 35,70 points to 1,864.78. Finally, the NASDAQ was 70,67 points to close at 4,337.51, down 0.59 percent for the week.
week
Monday, February 15
, the markets are closed for presidents day.
Tuesday, February 16
Housing Market Index (10: 00 a.m. EST) - product of the National Association of Home Builders housing market index based on a survey in which respondents of this organization are asked to note the general economy and the housing market conditions. The Housing Market Index is a weighted average of different diffusion indices, including the present sale of new homes, sales of new homes in the next six months and traffic of prospective buyers in new homes.
Wednesday, February 17
MBA Mortgage Applications (7: 00 p.m. EST) - mortgage applications index measure of applications at mortgage lenders. It is a leading indicator for sales of single-family homes and housing.
starts (8: 30 p.m. EST) - a beginning of housing is registered when begins the construction of a new residential building. The start of construction is defined as the beginning of the excavation of the Foundation for the construction.
producer price index (PPI) (8: 30 p.m. EST) - the Producer Price Index measures the average change over time in prices received by domestic producers of goods and services.
rates of Industrial Production (9: 15 a.m. EST) - the federal reserve, the monthly index of industrial production and the related capacity indices and use of capabilities covers, manufacturing, mining, and electric and gas.
Thursday, February 18
Jobless Claims (8: 30 p.m. EST) - unemployment new claims are compiled weekly to show the number of individuals for unemployment insurance for the first time. An upward trend indicates a deterioration in the job market. The moving average over four weeks of new claims adjusts weekly volatility.
Friday, February 19
Consumer Price Index (8: 30 a.m. EST) - price measure index changes based on the price of a basket of goods and services purchased by consumers.
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