Succinct Summation of Week’s Events 9.23.16

Succinct Summations for the week ending September 23rd 2016:


1.FOMC announced they would keep rates unchanged. Global equity markets responded positively.
2. Jobless claims fell to 252k, the 4-week moving average fell to 258.5k.
3. Permits for single-family homes rose 3.7%.
4. FHFA house price index rose 0.5% m/o/m, above the 0.4% expected increase.
5. The housing market index rose from 60 to 65, above the 60 expected.


1. PMI manufacturing index flash came in at 51.4, down from 51.2 previously and slightly below expectations.
2. Existing home sales came in at a 5.33M SAAR, below the 5.440M expected.
3. Existing home sales fell 0.9%. The previous fall of 3.2% was revised down to -3.4%.
4. MBA mortgage applications fell 7.3% w/o/w.
5. Housing starts rose to 1.142M, slightly below the 1.19M expected. Down from 1.211 previously.

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