1/27: Metro Econ P Duffy Update

December new home sales down 10.4 percent from November but off just 0.4 percent year-on-year

Sales of new single-family houses in December 2016 were at a seasonally adjusted annual rate of 536,000. This is 10.4 percent below the revised November rate of 598,000 and is 0.4 percent below the December 2015 estimate of 538,000.

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Leading Economic Index rose again by 0.5 percent in December

The U.S. Leading Economic Index increased in December, suggesting the economy will continue growing at a moderate pace, perhaps even accelerating slightly in the early months of this year.

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Mortgage loan applications rise 4.0 percent in latest survey; rates rebound slightly

The Market Composite Index increased 4.0 percent on a seasonally adjusted basis from one week earlier, with purchase loans rising 6 percent and refinances up 0.2 percent. The average contract interest rate for 30-year fixed-rate mortgage increased to 4.35 percent.

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Initial unemployment claims rise 22,000 in latest report; 4-week moving average lowest since Nov. 1973

In the week ending January 21, initial unemployment claims were 259,000, an increase of 22,000 from the previous week’s revised level. The 4-week moving average was 245,500, a decrease of 2,000 from the previous week’s revised average. This is the lowest level for this average since November 3, 1973.

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