4/11: MetroIntelligence Economic Update by P. DUFFY

New home mortgage applications rose 7.0 percent in March and 19 percent year-on-year

The Mortgage Bankers Association (MBA) Builder Application Survey (BAS) data for March 2019 shows mortgage applications for new home purchases increased 7 percent compared to a year ago. Compared to February 2019, applications increased by 19 percent.

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Consumer Price Index up 0.4 percent in March and 1.9 percent year-on-year

The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.4 percent in March on a seasonally adjusted basis after rising 0.2 percent in February. Over the last 12 months,  the all items index increased 1.9 percent before seasonal adjustment.

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February job openings rate fell to 4.6 percent, but still well above 3.8 unemployment rate

The number of job openings in February fell by 538,000 to 7.1 million (a job openings rate of 4.6 percent), for a surplus of 852,000 jobs (and versus a February unemployment rate of 3.8 percent).

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