Weekly Economic Update

Weekly Economic Update

Housing:  The National Association of Home Builders (NAHB) Housing Sentiment fell to 68 in April from 71 the prior month.  Despite the drop, builder’s sentiment remains close to cyclical highs.  Housing Starts for March declined 6.8% to 1215k after an upwardly revised 5.0% increase the prior month.  Despite the monthly decline, Housing Starts were 9.2% higher than a year ago.

The National Association of Home Builders (NAHB) Housing Sentiment fell to 68 in April from 71 the prior month.  Despite the drop, builder’s sentiment remains close to cyclical highs. Housing Starts for March declined 6.8% to 1215k after an upwardly revised 5.0% increase the prior month.  Despite the monthly decline, Housing Starts were 9.2% higher than a year ago.

Housing Starts for March declined 6.8% to 1215k after an upwardly revised 5.0% increase the prior month.  Despite the monthly decline, Housing Starts were 9.2% higher than a year ago.

Building permits rose 3.6% month-over-month (MoM) to 1260k in March and are 17.0% higher than a year ago.

Mortgage Bankers Association (MBA) Mortgage Applications fell 1.8% last week following an increase of 1.5% the week prior.  The 30-year Fixed-Rate Mortgage contract fell 6 bps to 4.22% while the 15-year Fixed Rate Mortgage contract fell 1bps to 3.5%

Industrial Production increased 0.5%.

Flast Market Manufacturer’s PMI fell to 52.8.

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