© Copyright 2012 Weichert Co. Morris Plains, NJ, USA. All rights reserved. Any form of reproduction or distribution is str...
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Market monitor template 032814

  1. 1. © 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. I s s u e 1 5 , V o l u m e 1 2 / M a r c h 2 8 , 2 0 1 4 Dissecting the Positives Hidden in the Data Tim McLaughlin The nation's GDP (Gross Domestic Product), the broadest measure of goods and services produced in the economy, grew at a 2.6% annual rate in the fourth quarter, according to the Commerce Department's third reading released Thursday. That was higher than the agency's previous calculation of 2.4%. Growth in the fourth quarter slowed from its 4.1% rate in the third quarter, however, the measure of underlying economic strength improved. The latest GDP report showed consumer spending, which accounts for roughly two-thirds of economic output, rising at its fastest pace since late 2010. Consumer spending increased 3.3% in the fourth quarter, up from the previous estimate of 2.6% and from 2.0% in the third quarter. Rising consumer spending supports many analysts' expectations for stronger economic growth this year, despite weather-related disruptions in the first two months. The fading effect of last year's tax increases coupled with fast-rising stock and home values are boosting spending firepower, despite muted wage gains. February Retail Sales partially reversed a sharp January decline, according to a separate Commerce Department report earlier this month, while healthy consumer-confidence readings have buoyed hopes that many shopping outings have merely been delayed because of cold weather. =============== Secondary Marketing Takeaway: That is good news for an economy grappling with declining government expenditures and more recently, unusually harsh winter weather. Consumer spending picked up late last year more than previously estimated, putting the economy on stronger footing ahead of the recent disruptions caused by harsh weather. So the real takeaway for us is given the strong underpinnings of positive economic news and releases, coupled with the spring market arriving and nicer weather on the horizon, the housing market is perfectly positioned for a terrific next couple of quarters. The opportunity to confidently obtain the perfect home and attractive financing is at your fingertips. We can help…ask us how! The Week Ahead -> The “Keys” - March Employment Data Drives the Week Ahead Date Economic Release Prediction Last 3/31 Chicago Purchasing Mgrs 59.0 59.8 3/31 Dallas Fed Manufacturing 3.0 0.3 4/1 US Manufacturing PMI 56.0 55.5 4/1 ISM Manufacturing 54.0 53.2 4/1 ISM Prices Paid 59.0 60.0 4/1 Construction Spend (MoM) 0.1% 0.1% 4/1 IBD/TIPP Eco Optimism - 45.1 4/1 Domestic Vehicle Sales 12.25M 11.98M 4/1 Total Vehicle Sales 15.80M 15.27M 4/2 MBA Mortgage Applications` - -3.5% 4/2 ADP Employment Change 190K 139K 4/2 ISM New York - 57.0 4/2 Factory Orders 1.2% -0.7% 4/3 RBC Consumer Outlook Index - 51.8 4/3 Initial Jobless Claims 318K 311K 4/3 Continuing Claims - 2823K 4/3 BB Consumer Comfort - -31.5 4/4 Nonfarm Payroll 195K 175K 4/4 Private Payroll 185K 162K 4/4 Manufacturing Payroll 5K 6K 4/4 Unemployment Rate 6.6% 6.7% 4/4 Avg Hourly Earnings (MoM) 0.2% 0.4% 4/4 Avg Hourly Earnings (YoY) - 2.2% 4/4 Avg Weekly Hours 34.4 34.2