7/13: MetroIntelligence Econ Update P. DUFFY

CPI up 0.1 percent in June and 2.9 percent year-on-year

The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.1 percent in June and was up 2.9 percent year-on-year. The index for all items less food and energy rose 0.2 percent in June, and was up 2.3 percent year-on-year. https://www.bls.gov/news.release/cpi.nr0.htm


Bloomberg: Consumer comfort rose for fifth-straight week to highest level since mid-April

The Consumer Comfort Index improved for a fifth straight week, buoyed by brighter views of their personal finances and record-high confidence among Republicans. The index rose from 57.6 to 58.0, the highest reading since mid-April and matching the second-strongest reading since February 2001.



Applications up 2.5 percent in weekly survey due to purchase loans, refinances dip

The Market Composite Index increased 2.5 percent on a seasonally adjusted basis from one week earlier, with purchase loans rising 7.0 percent but refinance activity falling 4.0 percent. The average contract interest rate for 30-year fixed-rate mortgages decreased to 4.76 percent.



Initial unemployment dip by 18,000 in weekly report

In the week ending July 7, initial unemployment claims were 214,000, a decrease of 18,000 from the previous week’s revised level. The 4-week moving average was 223,000, a decrease of 1,750 from the previous week’s revised average.