| Last | Change | Percent | |
| S&P Futures | 1690.2 | 4.4 | 0.26% |
| Eurostoxx Index | 2921.3 | -6.1 | -0.21% |
| Oil (WTI) | 103.1 | 0.4 | 0.40% |
| LIBOR | 0.248 | 0.001 | 0.20% |
| US Dollar Index (DXY) | 80.51 | 0.179 | 0.22% |
| 10 Year Govt Bond Yield | 2.65% | 0.02% | |
| Current Coupon Ginnie Mae TBA | 105.6 | 0.0 | |
| Current Coupon Fannie Mae TBA | 104.7 | 0.0 | |
| RPX Composite Real Estate Index | 200.7 | -0.2 | |
| BankRate 30 Year Fixed Rate Mortgage | 4.29 |
Markets are higher after initial jobless claims came in at 305k, better than expected and second quarter QDP was revised downward to 2.5%. Personal Consumption Expenditures increased 1.8%. Bonds and MBS are down small.
New Home Sales increased at a 421k pace in August, in line with expectations. This is an increase from July but still on the low side for 2013. Household net worth increased by 1.3 trillion in the second quarter and is now 6 times disposable personal income.
The RealtyTrac August Residential and foreclosure sales report reports that the national medial sales price rose 3% to $175,000, which is a 6 pct increase from a year ago. The median distressed price was $116,000, up 1 percent from a month ago, but down 3% from a year ago. This decline in the price of distressed properties is relatively new and bears watching. All cash purchases represented 45% of all residential sales in August, up from 39% in July and 30% a year ago. No wonder the mortgage banking business is struggling - the refi boom is over, and the percent of puchase business with a mortgage is falling as well.
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