PCE Deflator, (Personal Consumption Expenditure ... - Morningbull

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MBA Mortgage Applications - United States Gauges demand for mortgage application in the US . Tracking new home mortgages and refinances, MBA Mortgage Applications Survey serves at a current indicator for the US housing market. Growth in mortgages suggests a healthy housing market. Due to the multiplier effect housing has on the rest of the economy, rising activity suggests increased household income and economic expansion. The headline figure is the weekly percentage change in the MBA Mortgage Applications figure. Among the various indices measured in the survey, the purchase index and refinancing index most accurately reflect where the housing market is headed. The purchasing index measures the change in existing home sales in all mortgage applications, while the refinance index measures the mortgage refinancing activity in all mortgage applications. Note: Due to volatility in the sector, markets also focus on the four week moving averages. Relevance: Rarely affects markets Release schedule : 7:00 AM (EST); weekly, every Wednesday with previous week report Revisions schedule : At this point we are unclear Source of report : Mortgage Bankers Association Web Address : http://www.mortgagebankers.org Address of release : http://www.mortgagebankers.org/NewsandMedia/PressCenter AKA : Mortgage Applications Survey Pending Home Sales - United States Tracks residential housing contract activity of existing single-family homes. The Pending Home Sales report is an advanced read on trends in the US housing market. Housing is typically correlated to the overall state of the economy; particularly indicative of economic turning points. A sharp drop in housing demand typically acts as a warning signal of economic slowdown as buyers are reluctant to purchase houses when interest rates are high, disposable income is low,
or consumer confidence is low. Conversely, a rebound in the housing market is often a leading indicator of an economic recovery. The report headline is expressed in percentage change in pending home sales from previous month. Relevance: Rarely affects markets Release schedule : 10:00 AM (EST); monthly, 4 weeks after reporting month Source of report : National Association of Realtors Web Address : http://www.realtor.org| Address of release : http://www.realtor.org/Research.nsf/Pages/PHSdata New Home Sales - United States Records sales of newly constructed residences in the United States . The figure is a timely gauge of housing market conditions counting home sales when initial housing contracts are signed. Because New Home Sales usually trigger a sequence of consumption, they have significant market impact upon release. In addition to the high expenditure of the new home, buyers are likely to spend more money on furnishing customizing and financing their home. Consequently, g rowth in the housing market spurs more consumption, generating demand for goods, services and the employees who provide them. Generally the housing market is tracked by a number of reports that mark different stages of the construction and home sale process. The first stage is Building Permits, which precede Housing Starts, which lead to Construction Spending, MBA Mortgage Applications and, finally, New Home Sales and Existing Home Sales. As the headline housing figure, New Home Sales are believed to control for some of the volatility of other data. For instance, Building Permits and Housing Starts are considered more indicative of business confidence and production rather than consumer spending. And while Existing Home Sales figures are more indicative of consumer expenditures, they are lagging indicators with less predictive value. New Home Sales numbers are considered confirmatory of housing trends and still predictive of consumer spending. New Home Sales is also a good indicator of economic turning points due to its sensitivity to consumer income. Buying a house is always a major expenditure, typically only undertaken when consumers have sufficient savings or are optimistic about future earnings. Historically, when economic conditions slow, New Home Sales are one of the first indicators to reflect the change.
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Page 11 and 12: Rates Left Unchanged : The reaction
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Page 17: Technical notes: The construction i
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PCE Deflator, (Personal Consumption Expenditure ... - Morningbull

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