Weekly Economic Update

Weekly Economic Update

House prices, as measured by the S&P CoreLogic Case Shiller 20-City Home Price Index, rose 0.90% (MoM) for January and is now up 5.70% (YOY).  All 20 cities in the index showed YoY gains.

MBA Mortgage Applications fell 0.80% last week following a decrease of 2.7%% the week prior.  The 30-year Fixed-Rate Mortgage contract dropped 13 bps to 4.33%, while the 15-year FRM contract fell 11 bps to 3.57%.

Pending Home Sales in the U.S. jumped to 5.5% MoM for February, the largest since July 2010.

According to the Bureau of Economic Analysis, the U.S. Economy grew at 2.1% in Q4, revised up from 1.9%.

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