Market Monitor February 14, 2014
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Market Monitor February 14, 2014

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Market indicators for February 2014.

Market indicators for February 2014.

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Market Monitor February 14, 2014 Document Transcript

  • 1. I s su e 15 , Vo lu me 7 / Fe br u ar y 14, 201 4 Positive Housing Data Continues in National Survey The Week Ahead -> The “Keys” Tim McLaughlin - A plethora of Mortgage and Housing Data this week The number of Americans who believe it would be easy for them to get a mortgage increased by 2% to reach 52% in January, according to Fannie Mae's Monthly National Housing Survey. Date Economic Release 2/18 Empire Manufacturing It was the first time in the survey's 3 ½ year history that the number of people who think it would be easy to get a mortgage crossed the 50% threshold, Fannie Mae reports. 2/18 Long Term Net TIC Flows 2/18 Total Net TIC Flows Meanwhile, the number of Americans who think it would be difficult to get a mortgage dropped 3% to 45%. 2/18 NAHB Housing Market Index 2/19 MBA Mortgage Applications 2/19 Consumer attitudes toward the economy also improved, despite the mixed job reports for December and January. The share of consumers who believe the economy is on the right track climbed 8%. Additionally, the share of respondents who expect their personal financial situation to improve in the next year increased to 44%, continuing an upward trend since November. In addition, the share of people who say home prices will stay the same in the next 12 months increased 7% to 45%, while the share who says home prices will go up in the next 12 months fell by 6% to 43%. American consumers are also feeling more positive about interest rates: The number of consumers who say mortgage rates will go up in the next 12 months decreased by 2% to 55%. Doug Duncan, senior vice president and chief economist at Fannie Mae, says the "gradual upward trend" in the number of people who think it is easier to get a mortgage during the last few months "bodes well for the housing recovery and may be contributing to this month’s increase in consumers’ intention to buy rather than rent their next home." Prediction Last 9.00 12.51 $30.0B -$29.3B - -$16.6B 56 56 - -2.0% Housing Starts 950K 999K 2/19 Housing Starts (MoM) -4.9% -9.8% 2/19 Building Permits 977K 991K 2/19 Building Permits (MoM) -1.5% -2.6% 2/19 PPI (MoM) 0.1% 0.1% 0.1% 0.3% 1.2% 1.1% 1.4% 1.1% 2/19 2/19 2/19 Another statistic -> the number of consumers who say it is a good time to buy a house stands at 65%. And those who say it is a good time to sell a house increased 5% from last month to 38%. PPI (YoY) ex Food/Energy 2/19 Mortgage Delinquencies - 6.41% 2/19 MBA Mortgage Foreclosures - 3.08% 2/19 Jan 29 FOMC Mtg Minutes - - 2/20 CPI (MoM) 0.1% 0.3% 0.1% 0.1% 1.6% 1.5% 2/20 "The dip in overall home price expectations, though notable, is consistent with our view of moderating home price gains this year from a robust pace last year, while positive trends in perceptions about the economy and personal finances over the next year support our view of stronger growth in the broader economy,” he adds. ex Food/Energy 2/20 ex Food/Energy CPI (YoY) 2/20 ex Food/Energy 1.6% 1.7% 2/20 Initial Jobless Claims 334K 339K 2/20 Continuing Claims 2980K 2953K 2/20 Philly Fed Survey 8.5 9.4 2/21 Existing Home Sales 4.70M 4.87M © Copyright 2012 Weichert Co. Morris Plains, NJ, USA. All rights reserved. Any form of reproduction or distribution is strictly prohibited. Company NMLS # 2731. Mortgage Access Corp. d/b/a Weichert Financial Services, Executive Offices, 225 Littleton Road, Morris Plains, NJ 07950. 1-800-829-CASH. Licensed by the NJ Dept of Banking and Insurance. Licensed Mortgage Banker with the State Dept of Banking in NY and CT. Licensed by the Pennsylvania Department of Banking, Mortgage Lender 21042. Licensed Lender in AK, AR, DE, MD, D.C., GA, ME, MN, WI, IA, IN, LA, VT, WV, NC, ID, NE, WY, OK, TN, MI. Licensed by the Virginia State Corporation Commission, License #MC297. Certificate of Authority to transact business in CO. To check the license status of your mortgage loan originator, visit http://www.dora.state.co.us/real-estate/index.htm. Licensed Lender in SC. Licensed Mortgage Lender in TX. Licensed with the Financial Institutions Division in New Mexico, License # 01297. Licensed by the Department of Corporations under the California Residential Mortgage Lending Act. Licensed Mortgage Broker and Lender Ohio. Licensed Loan Broker and Lender Rhode Island. Licensed Oregon Mortgage Lender License #ML2528. Illinois Residential Mortgage Licensee, License #MB.0006377. Mississippi Licensed Mortgage Company, License #357/2008. Washington Consumer Loan License # CL-2731. Alabama Consumer Credit License #21213. Mortgage Access Corp. arranges loans with third-party providers. Equal Housing Lender.