Succinct Summations for the week ending July 24th, 2020

Succinct Summations for the week ending July 23rd, 2020


1. All time record low mortgage rates are encouraging home sales and construction;
2. Existing home sales rose 20.7% m/o/m.
3. New home sales increased to an annual rate of 776k in June.
4. Home mortgage apps rose 2.0% w/o/w.
5. PMI Composite stands at 50.0 for July.


1. Ferocious U.S. coronavirus surge adds 1 million new cases in July, now 3 million+.
2. Jobless claims rose 109k w/o/w from 1.307M to 1.416M.
3. Index of leading economic indicators rose 2.0% m/o/m.
4. FHFA House Price Index fell 0.3% m/o/m, below expectations.
5. Same store sales fell 7.5% w/o/w.

Thanks, Matt.



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