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Daily Economic Update
 Mortgage purchase applications were up 5.5 percent for the week ending November 5th
.
Purchase applications do not take into consideration cash buyers who according to the
August REALTORS® Confidence Index make up as much as 28 percent of transactions.
 Mortgage purchase applications were down 14.6 percent from the same week a year
ago.
 Refinances, which made up 81.7 percent of mortgage activity, rose 6.0 percent as
mortgage rates remained at 4.28 percent on a 30-year fixed mortgage.
 Jobless claims data (out a day early due to Veterans’ Day) showed initial claims falling
24,000 to 435,000 for the week ending November 6th
. This is positive news as the
number of initial claims fell to the lowest level in four months.
 The U.S. trade gap fell to $44 billion dollars in September, with exports rising and
imports falling. This will lead to an upward revision to GDP in the third quarter and
possibly better job data in the months ahead.
 A separate report showed import prices increased 0.9 percent in October, with oil and
commodity prices moving higher.
Produced by NAR Research
November 10, 2010

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Daily Economic Update for November 10, 2010

  • 1. Daily Economic Update  Mortgage purchase applications were up 5.5 percent for the week ending November 5th . Purchase applications do not take into consideration cash buyers who according to the August REALTORS® Confidence Index make up as much as 28 percent of transactions.  Mortgage purchase applications were down 14.6 percent from the same week a year ago.  Refinances, which made up 81.7 percent of mortgage activity, rose 6.0 percent as mortgage rates remained at 4.28 percent on a 30-year fixed mortgage.  Jobless claims data (out a day early due to Veterans’ Day) showed initial claims falling 24,000 to 435,000 for the week ending November 6th . This is positive news as the number of initial claims fell to the lowest level in four months.  The U.S. trade gap fell to $44 billion dollars in September, with exports rising and imports falling. This will lead to an upward revision to GDP in the third quarter and possibly better job data in the months ahead.  A separate report showed import prices increased 0.9 percent in October, with oil and commodity prices moving higher. Produced by NAR Research November 10, 2010