Recent Market MetricsCurrentPrevious 
US Unemployment Rate
remained at
4.1% in Nov
4.1%
4.1%
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Total nonfarm payroll employment increased by 228,000 in November, and the unemployment rate was unchanged at 4.1 percent, the U.S. Bureau of Labor Statistics reported today. Employment continued to trend up in professional and business services, manufacturing, and health care.

Household Survey Data

The unemployment rate held at 4.1 percent in November, and the number of unemployed persons was essentially unchanged at 6.6 million. Over the year, the unemployment rate and the number of unemployed persons were down by 0.5 percentage point and 799,000, respectively. (See table A-1.)

Among the major worker groups, the unemployment rate for teenagers increased to 15.9 percent in November. The jobless rates for adult men (3.7 percent), adult women (3.7 percent), Whites (3.6 percent), Blacks (7.3 percent), Asians (3.0 percent), and Hispanics (4.7 percent) showed little change. (See tables A-1, A-2, and A-3.)
08-Dec-17 8:46 AM ET - U.S. Bureau of Labor StatisticsNext: 04-Jan-18
US NonFarm Payroll
rose
228,000 in Nov
228,000
261,000
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Total nonfarm payroll employment increased by 228,000 in November, and the unemployment rate was unchanged at 4.1 percent, the U.S. Bureau of Labor Statistics reported today. Employment continued to trend up in professional and business services, manufacturing, and health care.

Household Survey Data

The unemployment rate held at 4.1 percent in November, and the number of unemployed persons was essentially unchanged at 6.6 million. Over the year, the unemployment rate and the number of unemployed persons were down by 0.5 percentage point and 799,000, respectively. (See table A-1.)

Among the major worker groups, the unemployment rate for teenagers increased to 15.9 percent in November. The jobless rates for adult men (3.7 percent), adult women (3.7 percent), Whites (3.6 percent), Blacks (7.3 percent), Asians (3.0 percent), and Hispanics (4.7 percent) showed little change. (See tables A-1, A-2, and A-3.)
08-Dec-17 8:46 AM ET - U.S. Bureau of Labor StatisticsNext: 04-Jan-18
Mortgage Application Volume
rose
4.7% for the week ending Dec 1
4.7%
-3.1%
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WASHINGTON, D.C. (December 7, 2017) - Christopher M. George, Chairman-Elect of the Mortgage Bankers Association (MBA) and the founder, President and CEO of CMG Financial, testified today before the U.S. House of Representatives Financial Services Committee Subcommittee on Financial Institutions and Consumer Credit at a hearing entitled, "Legislative Proposals for a More Efficient Federal Financial Regulatory Regime: Part II." His full written testimony is available here. Below is George's oral testimony, as prepared for delivery:

Chairman Luetkemeyer, Ranking Member Clay, and members of the subcommittee, I appreciate the opportunity to testify this afternoon on behalf of the Mortgage Bankers Association.

My name is Chris George, and I am the founder, President, and Chief Executive Officer of CMG Financial, a privately-held mortgage bank headquartered in San Ramon, California. I also currently hold the position of Chairman-Elect of the MBA, and I have previously served as Chairman of the California Mortgage Bankers Association.

As a three-decade veteran of the mortgage industry, I am pleased to share my views on HR 2570, the Mortgage Fairness Act, and the Comprehensive Regulatory Review Act. MBA supports both bills and believes they offer practical solutions to improve the efficiency of mortgage market regulations.

One of the most significant features of the Dodd-Frank Act was the requirement that lenders, during the underwriting process, carefully demonstrate a mortgage borrower's ability to repay their loan. And while the Qualified Mortgage standard that was developed by the CFPB was not meant to limit mortgage originations to only loans that meet this standard, the significant potential liability and litigation expenses for violations of the Ability to Repay rule have directed the vast majority of the market towards QM loans that provide safe harbor from potential litigation.

As the ATR rule and QM standard have been implemented, MBA has consistently maintained the view that mortgages originated with the same interest rate and other product features should be treated equally from a regulatory perspective, regardless of the originator's business model.

HR 2570 aims to improve a provision of the ATR rule and QM standard that generates unequal treatment of loans originated by mortgage brokers. The ATR rule and QM standard includes fees paid by a wholesale lender to a mortgage broker in the calculation of points and fees, which is used to determine whether a loan qualifies for the QM safe harbor. However, fees paid by a wholesale lender to a mortgage broker are already reflected in the interest rate offered to the consumer, resulting in a double-counting of these fees.

Because of this double-counting, loans originated through mortgage brokers are more likely to exceed the maximum allowable points and fees under the ATR rule and QM standard. This treatment results in some loans originated by mortgage brokers failing to qualify for QM safe harbor, while the exact same loans would have qualified if originated through a different channel.

HR 2570 would eliminate this double-counting and level the playing field for mortgage brokers, increasing competition in the lending market. We think this would ultimately benefit consumers, in particular low to moderate income consumers, by giving them greater choice when they go to shop for a loan, and thus potentially lowering their borrowing costs.

MBA supports HR 2570 and urges the committee to advance this common-sense provision to ensure that otherwise similar loans are not treated differently due simply to their origination channel.

MBA also supports the Comprehensive Regulatory Review Act, which amends the Economic Growth and Regulatory Paperwork Reduction Act. This legislation will clarify the EGRPRA review process, and eliminate ambiguity to ensure the Federal Financial Institutions Examination Council undertakes the timely review and elimination of any unnecessary regulations.

EGRPRA is an oversight mechanism designed to ensure that regulations are reviewed and evaluated in light of changes in the market or the interlocking federal regulatory structure. This proposed legislation seeks to improve the EGRPRA regime to better reflect significant structural changes to the federal regulatory landscape that have occurred since its original adoption in 1996. This legislation accomplishes this goal by increasing the frequency and expanding the breadth of reviews, and also by incorporating additional regulators in the process.

The proposed legislation requires comprehensive reviews every five years, rather than the current once-per-decade requirement. A shorter interval between reviews will prompt regulators to move more quickly to relieve the burden of outdated regulations or identify those that are otherwise unnecessary. Given the fast pace of technological innovation in today's market, a more frequent regulatory review cycle is critical to ensuring that regulations keep pace with the market and do not stifle innovation.

If this legislation is codified, the regulator's responsibility would no longer end with just an inventory of unnecessary regulations, but with the elimination of unnecessary regulations. In addition, each regulation must be tailored in a manner that limits its regulatory compliance impact, cost, and liability risk. In this way, the proposal provides actual regulatory relief. MBA sees this proposed legislation as having a positive impact on the efficiency of mortgage market regulations.

MBA urges the committee to pass this bill to ensure that the consumer financial regulatory regime is appropriately tailored to accommodate market changes or technological innovation.

Thank you again for the opportunity to testify today. I look forward to any questions you may have.

07-Dec-17 5:44 PM ET - MBANext: 14-Dec-17
30-Yr Fixed Mortgage Rate
rose
to 3.94% on Dec 7, up from 3.90% on Nov 30
3.94%
3.90%
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MCLEAN, VA--(Marketwired - Dec 7, 2017) - Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing average mortgage rising, but still lower than this time last year.

News Facts

  • 30-year fixed-rate mortgage (FRM) averaged 3.94 percent with an average 0.5 point for the week ending December 7, 2017, up from last week when it averaged 3.90 percent. A year ago at this time, the 30-year FRM averaged 4.13 percent. 
  • 15-year FRM this week averaged 3.36 percent with an average 0.5 point, up from last week when it averaged 3.30 percent. A year ago at this time, the 15-year FRM averaged 3.36 percent. 
  • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.35 percent this week with an average 0.3 point, up from last week when it averaged 3.32 percent. A year ago at this time, the 5-year ARM averaged 3.17 percent.
07-Dec-17 11:16 AM ET - Freddie MacNext: 14-Dec-17
15-Yr Fixed Mortgage Rate
rose
to 3.36% on Dec 7, up from 3.30% on Nov 30 & the highest in 8 mos
3.36%
3.30%
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MCLEAN, VA--(Marketwired - Dec 7, 2017) - Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing average mortgage rising, but still lower than this time last year.

News Facts

  • 30-year fixed-rate mortgage (FRM) averaged 3.94 percent with an average 0.5 point for the week ending December 7, 2017, up from last week when it averaged 3.90 percent. A year ago at this time, the 30-year FRM averaged 4.13 percent. 
  • 15-year FRM this week averaged 3.36 percent with an average 0.5 point, up from last week when it averaged 3.30 percent. A year ago at this time, the 15-year FRM averaged 3.36 percent. 
  • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.35 percent this week with an average 0.3 point, up from last week when it averaged 3.32 percent. A year ago at this time, the 5-year ARM averaged 3.17 percent.
07-Dec-17 11:16 AM ET - Freddie MacNext: 14-Dec-17
5-Yr ARM
rose
to 3.35% on Dec 7, up from 3.32% on Nov 30
3.35%
3.32%
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MCLEAN, VA--(Marketwired - Dec 7, 2017) - Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing average mortgage rising, but still lower than this time last year.

News Facts

  • 30-year fixed-rate mortgage (FRM) averaged 3.94 percent with an average 0.5 point for the week ending December 7, 2017, up from last week when it averaged 3.90 percent. A year ago at this time, the 30-year FRM averaged 4.13 percent. 
  • 15-year FRM this week averaged 3.36 percent with an average 0.5 point, up from last week when it averaged 3.30 percent. A year ago at this time, the 15-year FRM averaged 3.36 percent. 
  • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.35 percent this week with an average 0.3 point, up from last week when it averaged 3.32 percent. A year ago at this time, the 5-year ARM averaged 3.17 percent.
07-Dec-17 11:15 AM ET - Freddie MacNext: 14-Dec-17
Initial Unemployment Claims
fell
0.8% for the week ending Dec 2, to 236,000
236,000
238,000
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In the week ending December 2, the advance figure for seasonally adjusted initial claims was 236,000, a decrease of

2,000 from the previous week's unrevised level of 238,000. The 4-week moving average was 241,500, a decrease of 750

from the previous week's unrevised average of 242,250.
07-Dec-17 8:51 AM ET - US Dept of LaborNext: 14-Dec-17
US Productivity
increased
at an annualized rate of 3.0% in Q3, unrevised from previous estimate, the most in 12 mos
3.0%
1.5%
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Revised:
Third Quarter 2017, Revised Nonfarm business sector labor productivity increased 3.0 percent during the third quarter of 2017, the U.S. Bureau of Labor Statistics reported today, as output increased 4.1 percent and hours worked increased 1.1 percent. The productivity increase was the largest since the third quarter of 2014, when output per hour increased 4.4 percent. (All quarterly percent changes in this release are seasonally adjusted annual rates.) From the third quarter of 2016 to the third quarter of 2017, productivity increased 1.5 percent, reflecting a 3.0-percent increase in output and a 1.5-percent increase in hours worked. (See tables A1 and 2.)

Labor productivity, or output per hour, is calculated by dividing an index of real output by an index of hours worked by all persons, including employees, proprietors, and unpaid family workers.
06-Dec-17 8:34 AM ET - U.S. Bureau of Labor StatisticsNext: 01-Feb-18
ADP NonFarm Payroll
rose
190,000 in Nov
190,000
235,000
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Broadly distributed to the publiceach month, free of charge, the ADP National Employment Report is produced by the ADP ResearchInstitutein collaboration with Moody's Analytics. The report, which is derived from ADP's actual payrolldata, measures the change in total nonfarm private employment each month on a seasonally-adjustedbasis.
06-Dec-17 8:28 AM ET - ADPNext: 26-Dec-17
US Personal Savings was 3.2% in Oct, up from 3.0% in Sep
3.2%
3.0%
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The US Bureau of Economic Analysis publishes seasonally adjusted data for Personal Saving monthly.
04-Dec-17 12:46 PM ET - U.S. Bureau of Economic AnalysisNext: 22-Dec-17
US Personal Income
rose
0.4% in Oct
0.4%
0.4%
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The US Bureau of Economic Analysis publishes seasonally adjusted data for Personal Income monthly.
04-Dec-17 12:46 PM ET - U.S. Bureau of Economic AnalysisNext: 22-Dec-17
US Disposable Income
rose
0.5% in Oct, the most in 8 mos
0.5%
0.4%
collapse/expand
The US Bureau of Economic Analysis publishes seasonally adjusted data for Disposable Personal Income monthly.
04-Dec-17 12:46 PM ET - U.S. Bureau of Economic AnalysisNext: 22-Dec-17
US Consumer Spending (PCE)
rose
0.1% in Oct
0.1%
0.4%
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The US Bureau of Economic Analysis publishes seasonally adjusted data for Personal Consumption Expenditures monthly. A healthy Personal Spending figure means that consumers are buying goods and services, fueling the economy and spurring output growth. The report is particularly valued for forecasting inflationary pressures. Taken in excess these high levels of consumption and production may lead to an overall increase in prices. Indeed, the Fed uses a measure of inflation derived from the PCE as their primary gauge of inflation.
04-Dec-17 12:19 PM ET - U.S. Bureau of Economic AnalysisNext: 22-Dec-17
US Core Consumer Spending PCE
rose
0.2% in Oct
0.2%
0.2%
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The US Bureau of Economic Analysis publishes seasonally adjusted data for Personal Consumption Expenditures monthly. A healthy Personal Spending figure means that consumers are buying goods and services, fueling the economy and spurring output growth. The report is particularly valued for forecasting inflationary pressures. Taken in excess these high levels of consumption and production may lead to an overall increase in prices. Indeed, the Fed uses a measure of inflation derived from the PCE as their primary gauge of inflation.
04-Dec-17 12:19 PM ET - U.S. Bureau of Economic AnalysisNext: 21-Dec-17
US Construction Spending
rose
1.4% in Oct, to $1241.5 Billion/yr
1.4%
0.3%
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The Value of Construction Put in Place Survey provides monthly estimates of the total dollar value of construction work done in the U.S. The United States Code, Title 13, authorizes this program. The survey covers construction work done each month on new structures or improvements to existing structures for private and public sectors. Data estimates include the cost of labor and materials, cost of architectural and engineering work, overhead costs, interest and taxes paid during construction, and contractor's profits. Data collection and estimation activities begin on the first day after the reference month and continue for about three weeks. Reported data and estimates are for activity taking place during the previous calendar month. The survey has been conducted monthly since 1964.
04-Dec-17 11:44 AM ET - USCBNext: 03-Jan-18
Capital Goods Core Capex
rose
0.3% in Oct, revised from -0.5%
0.3%
2.1%
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Full Report:
New orders for manufactured durable goods in October decreased $2.8 billion or 1.2 percent to $236.0 billion, the U.S. Census Bureau announced today. This decrease, down following two consecutive monthly increases, followed a 2.2 percent September increase. Excluding transportation, new orders increased 0.4 percent. Excluding defense, new orders decreased 0.8 percent. Transportation equipment, also down following two consecutive monthly increases, drove the decrease, $3.5 billion or 4.3 percent to $77.1 billion.
04-Dec-17 11:28 AM ET - USCBNext: 22-Dec-17
Durable Goods Total New Orders
fell
0.8% in Oct, revised from 0.1%
-0.8%
2.2%
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Full Report:
New orders for manufactured durable goods in October decreased $2.8 billion or 1.2 percent to $236.0 billion, the U.S. Census Bureau announced today. This decrease, down following two consecutive monthly increases, followed a 2.2 percent September increase. Excluding transportation, new orders increased 0.4 percent. Excluding defense, new orders decreased 0.8 percent. Transportation equipment, also down following two consecutive monthly increases, drove the decrease, $3.5 billion or 4.3 percent to $77.1 billion.
04-Dec-17 11:26 AM ET - USCBNext: 22-Dec-17
Canada GDP
grew
at an annualized rate of 3.3% in Sep
3.3%
3.5%
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Canadian GDP is reported monthly by Statistics Canada. The annual growth rate is the percentage change of current-month GDP at basic prices from the same month one year ago.
04-Dec-17 11:16 AM ET - Statistics CanadaNext: 22-Dec-17
Canada Unemployment Rate
fell
to 5.9% in Nov, down from 6.3% in Oct & the lowest since Feb 2008
5.9%
6.3%
collapse/expand
The Canadian unemployment rate is reported monthly by Statistics Canada.
01-Dec-17 1:28 AM ET - Statistics CanadaNext: 05-Jan-18
ISM Manufacturing Index
fell
to 58.2% in Nov, down from 58.7% in Oct
58.2%
58.7%
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(Tempe, Arizona) — Economic activity in the manufacturing sector expanded in November, and the overall economy grew for the 102nd consecutive month, say the nation's supply executives in the latest Manufacturing ISM® Report On Business®.

The report was issued today by Timothy R. Fiore, CPSM, C.P.M., Chair of the Institute for Supply Management® (ISM®) Manufacturing Business Survey Committee: "The November PMI® registered 58.2 percent, a decrease of 0.5 percentage point from the October reading of 58.7 percent. The New Orders Index registered 64 percent, an increase of 0.6 percentage point from the October reading of 63.4 percent. The Production Index registered 63.9 percent, a 2.9 percentage point increase compared to the October reading of 61 percent. The Employment Index registered 59.7 percent, a decrease of 0.1 percentage point from the October reading of 59.8 percent. The Supplier Deliveries Index registered 56.5 percent, a 4.9 percentage point decrease from the October reading of 61.4 percent. The Inventories Index registered 47 percent, a decrease of 1 percentage point from the October reading of 48 percent. The Prices Index registered 65.5 percent in November, a 3 percentage point decrease from the October level of 68.5, indicating higher raw materials prices for the 21st consecutive month. Comments from the panel reflect expanding business conditions, with New Orders and Production leading gains, employment expanding at a slower rate, order backlogs stable and expanding, and export orders all continuing to grow in November. Supplier deliveries continued to slow (improving), but at slower rates, and inventories continued to contract during the period. Price increases continued, but at a slower rate. The Customers’ Inventories Index improved but remains at low levels."

Of the 18 manufacturing industries, 14 reported growth in November, in the following order: Paper Products; Machinery; Transportation Equipment; Computer & Electronic Products; Nonmetallic Mineral Products; Plastics & Rubber Products; Printing & Related Support Activities; Food, Beverage & Tobacco Products; Electrical Equipment, Appliances & Components; Chemical Products; Furniture & Related Products; Fabricated Metal Products; Miscellaneous Manufacturing; and Primary Metals. Two industries reported contraction during the period: Wood Products; and Petroleum & Coal Products.

 

01-Dec-17 1:28 AM ET - Institute of Supply ManagementNext: 01-Jan-18
EU Unemployment Rate
fell
to 8.8% in Oct, down from 8.9% in Sep & the lowest since Feb 2009
8.8%
8.9%
collapse/expand
The euro area (EA19) seasonally-adjusted unemployment rate was 8.8% in October 2017, down from 8.9% inSeptember 2017 and from 9.8% in October 2016. This is the lowest rate recorded in the euro area since January2009. The EU28 unemployment rate was 7.4% in October 2017, down from 7.5% in September 2017 and from8.3% in October 2016. This is the lowest rate recorded in the EU28 since November 2008. These figures arepublished by Eurostat, the statistical office of the European Union.
30-Nov-17 7:56 AM ET - EurostatNext: 09-Jan-18
US Corporate Profits
rose
10.0% in Q3 (vs. Q3 2016), to $1.86 Trillion/yr, to the highest level in 12 mos
10.0%
7.4%
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Preliminary Estimate:
Profits from current production (corporate profits with inventory valuation adjustment and capitalconsumption adjustment) increased $91.6 billion in the third quarter, compared with an increase of$14.4 billion in the second quarter.
29-Nov-17 11:50 AM ET - U.S. Bureau of Economic AnalysisNext: 21-Dec-17
US Real GDP
grew
at an annualized rate of 3.3% in Q3, revised from 3.0%, the most in 12 mos
3.3%
3.1%
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Second Estimate:
Real gross domestic product (GDP) increased at an annual rate of 3.3 percent in the third quarter of2017 (table 1), according to the "second" estimate released by the Bureau of Economic Analysis. In thesecond quarter, real GDP increased 3.1 percent.

The GDP estimate released today is based on more complete source data than were available for the"advance" estimate issued last month. In the advance estimate, the increase in real GDP was 3.0percent. With this second estimate for the third quarter, the general picture of economic growthremains the same; nonresidential fixed investment, state and local government spending, and privateinventory investment were revised up from the prior estimate (see "Updates to GDP" on page 2).
29-Nov-17 11:48 AM ET - U.S. Bureau of Economic AnalysisNext: 21-Dec-17
Case-Shiller 20-City Index
rose
6.2% in Sep vs. previous year, to 203.50, the highest level since Mar 2007
6.2%
6.1%
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The S&P/Case-Shiller Home Price Indices are the leading measures for the US residential housing market, tracking changes in the value of residential real estate both nationally as well as in 20 metropolitan regions.
28-Nov-17 9:16 AM ET - Standard & Poor'sNext: 26-Dec-17
New Home Sales
rose
6.2% in Oct, to 685,000/yr
685,000
645,000
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Sales of new single-family houses in October 2017 were at a seasonally adjusted annual rate of 685,000,according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing andUrban Development. This is 6.2 percent (±18.0 percent)* above the revised September rate of 645,000 andis 18.7 percent (±23.5 percent)* above the October 2016 estimate of 577,000.
27-Nov-17 11:22 AM ET - USCBNext: 22-Dec-17
UK GDP
grew
at an annualized rate of 0.4% in Q3
0.4%
0.3%
collapse/expand
The UK Office for National Statistics publishes Preliminary Estimates of GDP approximately one month after the end of a given quarter, followed by Second Estimates a month later and the Final Estimates a month after that.
27-Nov-17 8:22 AM ET - UK Office of National StatisticsNext: 22-Feb-18
US Consumer Confidence
fell
to 98.5 in Nov, revised from 97.8
98.5
100.7
collapse/expand
Final:
U.S. consumer sentiment saw slight gains in November compared to the mid-month reading, though the index remained below the decade high reached in October.

The University of Michigan's survey of consumer attitudes for November rose to 98.5 in a Wednesday release. The measure was forecast by Reuters economists to hit 98.

The indicator has remained largely unchanged in 2017, which reflects American consumers' increasing confidence and certainty about their income and employment prospects, said Richard Curtin, chief economist for the Surveys of Consumers.

22-Nov-17 11:55 AM ET - Thompson Reuters U. MichiganNext: 07-Dec-17
Existing Home Sales
rose
2.0% in Oct, to 5,480,000/yr
5,480,000
5,370,000
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Total existing-home sales, https://www.nar.realtor/existing-home-sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, increased 2.0 percent to a seasonally adjusted annual rate of 5.48 million in October from a downwardly revised 5.37 million in September. After last month's increase, sales are at their strongest pace since June (5.51 million), but still remain 0.9 percent below a year ago.
21-Nov-17 10:10 AM ET - National Association of RealtorsNext: 20-Dec-17
Home Sales Inventory
fell
7.1%Oct, to 3.9 months, to the lowest level in 7 mos
3.9
4.2
collapse/expand
Total housing inventory at the end of October decreased 3.2 percent to 1.80 million existing homes available for sale, and is now 10.4 percent lower than a year ago (2.01 million) and has fallen year-over-year for 29 consecutive months. Unsold inventory is at a 3.9-month supply at the current sales pace, which is down from 4.4 months a year ago.
21-Nov-17 10:10 AM ET - National Association of RealtorsNext: 20-Dec-17
Canada Inflation
fell
to 1.4% in Oct, down from 1.6% in Sep
1.4%
1.6%
collapse/expand
The Consumer Price Index (CPI) increased 1.4% on a year-over-year basis in October, following a 1.6% gain in September. The all-items excluding gasoline index rose 1.3% year over year in October, after increasing 1.1% in September.
17-Nov-17 8:52 AM ET - Statistics CanadaNext: 21-Dec-17
Housing Starts
rose
13.7% in Oct, to 1,290,000/yr, the highest level in 12 mos
1,290,000
1,135,000
collapse/expand
Privately-owned housing starts in October 2017 were at a seasonally adjusted annual rate of 1,290,000. This is 13.7 percent (+/- 10.5%) above the revised September 2017 estimate of 1,135,000.


October 2017: +13.7 % change
September 2017 (r): -3.2* % change

17-Nov-17 8:45 AM ET - USCBNext: 19-Dec-17
EU Inflation (HICP)
fell
to 1.4% in Oct, down from 1.5% in Sep
1.4%
1.5%
collapse/expand

Annual inflation down to 1.4% in the euro area

Euro area annual inflation was 1.4% in October 2017, down from 1.5% in September. In October 2016, the rate was 0.5%. European Union annual inflation was 1.7% in October 2017, down from 1.8% in September. A year earlier the rate was 0.5%. These figures come from Eurostat, the statistical office of the European Union.
16-Nov-17 8:10 AM ET - EurostatNext: 18-Dec-17
US Retail Sales
rose
0.2% in Oct, to $486.6 Billion
0.2%
1.6%
collapse/expand
U.S. retail and food services sales for October were $486.6 billion, an increase of 0.2 percent (+/-0.5%)* from the previous month.


October 2017: +0.2* % change
September 2017 (r): +1.9 % change

15-Nov-17 8:40 AM ET - USCBNext: 14-Dec-17
Overall US Inflation
rose
0.1% in Oct
0.1%
0.5%
collapse/expand
The Consumer Price Index (CPI) is a measure of the average change in prices over time of goods and services purchased by households. The Bureau of Labor Statistics publishes CPIs for two population groups:
  • (1) the CPI for Urban Wage Earners and Clerical Workers (CPI-W),which covers households of wage earners and clerical workers that comprise approximately 29 percent of the total population and
  • (2) the CPI for All Urban Consumers (CPI-U) and the Chained CPI for All Urban Consumers (C-CPI-U), which cover approximately 88 percent of the total population and include in addition to wage earners and clerical worker households, groups such as professional, managerial, and technical workers, the self-employed, short-term workers, the unemployed, and retirees and others not in the labor force.
15-Nov-17 8:33 AM ET - U.S. Bureau of Labor StatisticsNext: 13-Dec-17
Core US Inflation
rose
0.2% in Oct
0.2%
0.1%
collapse/expand
The Consumer Price Index (CPI) is a measure of the average change in prices over time of goods and services purchased by households. The Bureau of Labor Statistics publishes CPIs for two population groups:
  • (1) the CPI for Urban Wage Earners and Clerical Workers (CPI-W),which covers households of wage earners and clerical workers that comprise approximately 29 percent of the total population and
  • (2) the CPI for All Urban Consumers (CPI-U) and the Chained CPI for All Urban Consumers (C-CPI-U), which cover approximately 88 percent of the total population and include in addition to wage earners and clerical worker households, groups such as professional, managerial, and technical workers, the self-employed, short-term workers, the unemployed, and retirees and others not in the labor force.
15-Nov-17 8:33 AM ET - U.S. Bureau of Labor StatisticsNext: 13-Dec-17
UK Unemployment
remained at
4.3% in Sep
4.3%
4.3%
collapse/expand
  • Estimates from the Labour Force Survey show that, between April to June 2017 and July to September 2017, the number of people in work fell slightly, the number of unemployed people also fell, and the number of people aged from 16 to 64 not working and not seeking or available to work (economically inactive) increased.

  • There were 32.06 million people in work, 14,000 fewer than for April to June 2017 but 279,000 more than for a year earlier.

  • The employment rate (the proportion of people aged from 16 to 64 who were in work) was 75.0%, down slightly compared with April to June 2017 but up from 74.4% for a year earlier.

  • There were 1.42 million unemployed people (people not in work but seeking and available to work), 59,000 fewer than for April to June 2017 and 182,000 fewer than for a year earlier.

  • The unemployment rate (the proportion of those in work plus those unemployed, that were unemployed) was 4.3%, down from 4.8% for a year earlier and the joint lowest since 1975.

  • There were 8.88 million people aged from 16 to 64 who were economically inactive (not working and not seeking or available to work), 117,000 more than for April to June 2017 but 20,000 fewer than for a year earlier.

  • The inactivity rate (the proportion of people aged from 16 to 64 who were economically inactive) was 21.6%, higher than for April to June 2017 (21.3%) but down slightly from a year earlier.

  • Latest estimates show that average weekly earnings for employees in Great Britain in nominal terms (that is, not adjusted for price inflation) increased by 2.2% both including and excluding bonuses, compared with a year earlier.

  • Latest estimates show that average weekly earnings for employees in Great Britain in real terms (that is, adjusted for price inflation) fell by 0.4% including bonuses, and fell by 0.5% excluding bonuses, compared with a year earlier.

15-Nov-17 8:12 AM ET - UK Office of National StatisticsNext: 13-Dec-17
UK Producer Price Inflation
fell
to 2.8% in Oct, down from 3.3% in Sep & the lowest in 10 mos
2.8%
3.3%
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  • The headline rate of inflation for goods leaving the factory gate (output prices) rose 2.8% on the year to October 2017, down from 3.3% in September 2017.
  • Prices for materials and fuels (input prices) rose 4.6% on the year to October 2017, down from 8.1% in September 2017.
  • Core input inflation was 3.2% on the year to October 2017, which is the lowest it has been since June 2016.
14-Nov-17 8:57 AM ET - UK Office of National StatisticsNext: 12-Dec-17
UK Inflation
remained at
2.8% in Oct
2.8%
2.8%
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  • The Consumer Prices Index including owner occupiers housing costs (CPIH) 12-month inflation rate was 2.8% in October 2017, unchanged from September 2017.

  • The inflation rate for food and non-alcoholic beverages continued to increase to 4.1%, the highest since September 2013.

  • Rising prices for food and, to a lesser extent, recreational goods provided the largest upward contributions to change in the rate between September 2017 and October 2017.

  • The upward contributions were offset by falling motor fuel and furniture prices, along with owner occupiers housing costs, which remained unchanged between September 2017 and October 2017, having risen a year ago.

  • The Consumer Prices Index (CPI) 12-month rate was 3.0% in October 2017, unchanged from September 2017.

14-Nov-17 8:57 AM ET - UK Office of National StatisticsNext: 12-Dec-17
EU GDP
grew
at an annualized rate of 3.4% in Q2, revised from 2.2%, the most since Mar 2007
3.4%
2.6%
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Preliminary:
European Union gross domestic product (GDP) is published by the Europan Central Bank at market prices. It is a measure of the economic activity, defined as the value of all goods and services produced less the value of any goods or services used in their creation. The calculation of the annual growth rate of GDP volume is intended to allow comparisons of the dynamics of economic development both over time and between economies of different sizes.
14-Nov-17 8:46 AM ET - ECBNext: 05-Dec-17
US Treasury reported a
deficit
of $63 Billion in Oct
-$63
$8
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The US Treasury publishes the Monthly Treasury Statement (MTS) at 2:00 PM on the 8th business day of each month.

The MTS summarizes the financial activities of the federal government and off-budget federal entities in accordance with the Budget of the U.S. Government, inlcuding:

  • Receipts and outlays
  • Surplus or deficit
  • Means of financing on a modified cash basis

Data provided by federal entities, disbursing officers, and Federal Reserve Banks.

14-Nov-17 8:40 AM ET - US Department of the TreasuryNext: 12-Dec-17
US Producer Price Index
rose
0.4% in Oct
0.4%
0.4%
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The Producer Price Index (PPI) of the Bureau of Labor Statistics (BLS) is a family of indexes that measure the average change over time in the prices received by domestic producers of goods and services. PPIs measure price change from the perspective of the seller. This contrasts with other measures, such as the Consumer Price Index (CPI). CPIs measure price change from the purchaser's perspective. Sellers' and purchasers' prices can differ due to government subsidies, sales and excise taxes, and distribution costs.
14-Nov-17 8:33 AM ET - U.S. Bureau of Labor StatisticsNext: 12-Dec-17
1-Yr ARM
remained at
2.68% on Dec 31
2.68%
2.68%
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Mortgage Rates Top Four Percent

MCLEAN, VA--(Marketwired - Dec 31, 2015) - Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing fixed mortgage rates moving higher with the 30-year fixed-rate mortgage breaking above four percent for the first time in five months.

News Facts

  • 30-year fixed-rate mortgage (FRM) averaged 4.01 percent with an average 0.6 point for the week ending December 31, 2015, up from last week when it averaged 3.96 percent. A year ago at this time, the 30-year FRM averaged 3.87 percent. 

  • 15-year FRM this week averaged 3.24 percent with an average 0.6 point, up from 3.22 percent last week. A year ago at this time, the 15-year FRM averaged 3.15 percent. 

  • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.08 percent this week with an average 0.4 point, up from last week when it averaged 3.06 percent. A year ago, the 5-year ARM averaged 3.01 percent.

  • 1-year Treasury-indexed ARM averaged 2.68 percent this week with an average 0.2 point, unchanged from last week. At this time last year, the 1-year ARM averaged 2.40 percent. 

Average commitment rates should be reported along with average fees and points to reflect the total upfront cost of obtaining the mortgage. Visit the following links for the Regional and National Mortgage Rate Details and Definitions. Borrowers may still pay closing costs which are not included in the survey.

As of January 1, 2016, the PMMS will no longer provide results for the 1-year ARM. Additionally, the regional breakouts will not be provided for the 30-year and 15-year fixed rate mortgages, and the 5/1 Hybrid ARM.

Quote
Attributed to Sean Becketti, chief economist, Freddie Mac.

"In the final week of 2015, Treasury yields jumped reacting in part to strong consumer confidence in December. In response, the 30-year mortgage rate rose 5 basis points to 4.01 percent, ending a 5-month span below 4 percent. After averaging 3.9 percent in the fourth quarter of 2015, we expect the 30-year mortgage rate to average 4.7 percent for the fourth quarter of 2016."

Freddie Mac was established by Congress in 1970 to provide liquidity, stability and affordability to the nation's residential mortgage markets. Freddie Mac supports communities across the nation by providing mortgage capital to lenders. Today Freddie Mac is making home possible for one in four home borrowers and is one of the largest sources of financing for multifamily housing. Additional information is available at FreddieMac.com, Twitter @FreddieMac and Freddie Mac's blog FreddieMac.com/blog.



31-Dec-15 10:48 AM ET - Freddie MacNext: 07-Jan-16