September Fannie Mae Home Purchase Sentiment Index rose 0.3 points, matching previous record high
The Fannie Mae Home Purchase Sentiment Index® (HPSI) increased 0.3 points in September to 88.3, matching the all-time high set in June. Renter respondents, in particular, buoyed the net good time to buy component, showing a substantial upward change in optimism in September.
September Producer Price Index up 0.4 percent from August and 2.6 percent year-on-year
The Producer Price Index for final demand advanced 0.4 percent in September. On an unadjusted basis, the final demand index increased 2.6 percent for the 12 months ended in September, the largest rise since an advance of 2.8 percent for the 12 months ended February 2012.
Federal Reserve meeting minutes indicates December interest rate hike is likelyFederal Reserve officials see the economy expanding at a steady clip and indicate that an interest ratehike later this year is a near lock, despite some divisions over where inflation is headed.
Mortgage applications fall 2.1 percent in latest survey
The Market Composite Index, decreased 2.1 percent on a seasonally adjusted basis from one week earlier, with purchase loans down 0.1 percent and refinances falling 4.0 percent. The average contract interest rate for 30-year fixed-rate mortgages increased to 4.16 percent.
Initial unemployment claims decline 15,000 in latest report
In the week ending October 7, initial unemployment claims were 243,000, a decrease of 15,000 from the previous week’s revised level. The 4-week moving average was 257,500, a decrease of 9,500 from the previous week’s revised average.