Tag Archives: Capital Economics

Although it may be hard to picture the U.S. falling into a recession with so many positive reports on the economy, certain data suggests that the time of darkness could be upon us.

According to figures released Thursday by the Census Bureau, the share of American homeowners hit 64.0 percent in Q4 2014, down from 64.4 percent in the previous quarter. Historical data shows the last time homeownership was so low was in Q4 1994, when the rate was 59.6 percent.

A first-look reading of the University of Michigan/Thomson Reuters consumer confidence index shows the measure climbed to 98.2 as of mid-January, up nearly five points from a final December reading of 93.6 and from a consensus forecast of 94.1 among economists polled by Thomson Reuters.

Total mortgage application volumes, including both purchase loans and refinances, fell 9.1 percent over the two weeks ending January 2, the Mortgage Bankers Association (MBA) reported Wednesday. The results include adjustments for the Christmas and New Year's Day holidays.

Based on weekly application data released by the Mortgage Bankers Association (MBA), macroeconomics firm Capital Economics calculated a 0.3 percent increase in mortgage applications last month. The meager uptick compares to a 10.1 percent surge in October.

According to a second estimate from the Commerce Department, GDP grew at an annualized rate of 3.9 percent in July, August, and September, down slightly from the second quarter's growth rate of 4.6 percent and up from the first quarter's 2.1 percent downturn.

According to an examination of application numbers by macroeconomic research company Capital Economics, total mortgage application volume jumped 10.1 percent in October, bouncing back after four straight months of declines. The headline measure received a major boost from refinance applications, which were up 18.5 percent month-over-month to arrive at an eight-month high.

According to a report from the U.S. Census Bureau, the homeownership rate last quarter fell to 64.4 percent, down 0.3 percentage points from Q2 and nearly a full percentage point from the same quarter last year. The last time homeownership in the country was this low was in the first quarter of 1995.

Compared to August, loan application volumes were down 1 percent in September, macroeconomic research firm Capital Economics reported Wednesday. The decline came even as mortgage rates hovered at an average 4.32 percent for 30-year fixed-rate loans, slightly above August's average and within the 10-basis-point range interest rates have occupied since May.

The Thomson Reuters/University of Michigan's Index of Consumer Sentiment edged up more than two points in a preliminary September reading, putting it at a 14-month high of 84.6. The increase in the headline index was driven by a more than four-point improvement in the gauge of consumer expectations, which rose to 75.6.