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Market Movement Data

29 Mar 2019, Posted by Ashley in Uncategorized

Courtesy of CMG Financial

Mortgage rates continued to trend downward last week. Retail sales improved, as did small business sentiment. The consumer price index appreciated. New purchase mortgage application submissions are up, but refinance applications dipped slightly. US construction spending increased again. Jobless claims increased marginally. New home sales declined.



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After a year-end decline in December, retail sales improved 0.2% month-over-month in January. Excluding vehicle sales, retail sales are up 0.9% month-over-month and excluding vehicles and gas, retail sales are up 1.2% month-over-month.
The National Federation of Independent Business (NFIB) small-business optimism index improved in February, up a half of a point to a level of 101.7.
The consumer price index rose 0.2% month-over-month and 1.5% year-over-year. Rent, food, gas, and clothing saw some of the most substantial gains. Excluding more volatile food and energy costs, the core CPI is up 0.1% month-over-month and 2.1% year-over-year.
For the week ending 3/8, new purchase application submissions increased 4.0% and refinance applications declined 0.2%, for a composite increase of 2.3%.
After a modest December, US construction spending rebounded in January, with investment in public projects hitting an eight-year high. Overall, spending is up 1.3% month-over-month and 0.2% year-over-year. Spending on private projects only inched up 0.2% and spending on private residential project is down 0.3%.
Initial jobless claims increased to a level 229,000 and continuing claims increased to a level of 1.77 million.
New home sales declined in January, down 6.9% month-over-month to an annual rate of 607,000.

This week’s important economic reports include:
NAHB housing market index
Housing starts and building permits
MBA applications
Federal Open Market Committee meeting
Weekly jobless claims
Existing home sales