6/22: METROINTELLIGENCE ECON UPDATE P.Duffy

May Leading Economic Index growth dipped to 0.2 percent, indicating moderating trend

While May’s 0.2 percent increase in the U.S. LEI was slower than in recent months, the improvements in a majority of its components offset the declines in leading indicators of labor markets and residential construction. The U.S. LEI still points to solid growth but the current trend, which is moderating, indicates that economic activity is not likely to accelerate.

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April FHFA House Price Index up 0.1 percent from March and 6.4 percent year-on-year

The FHFA House Price Index (HPI) reported a 0.1 percent increase in U.S. house prices in April from the previous month.  From April 2017 to April 2018, house prices were up 6.4 percent.

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Bloomberg:  June consumer comfort rises to highest level since 2002, weekly index up to 7-week high

Americans’ expectations for the economy advanced for a second month in June to match the highest level since 2002, with the monthly gauge rising from 54.5 to 56. The weekly consumer comfort index rose to seven-week high of 56.5 from 55.8

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Mortgage applications rise 5.1 percent weekly survey, rates flat

The Market Composite Index increased 5.1 percent on a seasonally adjusted basis from one week earlier, with purchase loans up 4.0 percent and refinances rising 6.0 percent. The average contract interest rate for 30-year fixed-rate mortgages remained unchanged at 4.83 percent.

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Initial unemployment claims dip 3,000 in latest report

In the week ending June 16, initial unemployment claims were 218,000, a decrease of 3,000 from the previous week’s revised level. The previous week’s average was revised up by 750 from 224,250 to 225,000.

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