- FHFA House Price Index – Home prices gained 0.5% in January on a seasonally-adjusted basis, following a 0.7% rise the month before.
- S&P Case-Shiller HPI – At 0.8%, January’s adjusted monthly price gain is quite strong. However, the year-on-year rate is down from December.
- New Home Sales – Total new homes on the market increased slightly in the month. At 189,000, they are at their highest level since December 2010.
- Consumer Confidence – At 82.3, Consumer Confidence was higher than expected. The Econoday consensus predicted 78.3.
- GDP – The Real GDP growth for the fourth quarter was revised up slightly to an annualized 2.6%.
- Jobless Claims – Initial claims fell 10,000 to 311,000. The Econoday consensus called for a decline of 12,000.
- Bloomberg Consumer Comfort Index – Consumer confidence in the U.S. declined to the lowest level in seven weeks as Americas turned more pessimistic about the economy.
- Pending Home Sales Index – Pending home sales fell 0.8% in February and were revised down to -0.2% in January. Pending home sales have now fallen for nine straight months.
- Consumer Sentiment – Details in the month-to-month comparison with February are mixed, showing no significant change for current conditions.
According to the Primary Mortgage Market Survey released by Freddie Mac, average mortgage rates inched upward.
30-year fixed-rate mortgages (FRMs) averaged 4.40% with an average 0.6 point for the week ending March 27, 2014, up from last week when they averaged 4.32%. A year ago at this time, 30-year FRMs averaged 3.57%.
15-year FRMs this week averaged 3.42% with an average 0.6 point, up from last week when they averaged 3.32%. A year ago at this time, 15-year FRMs averaged 2.76%.
5-year Treasury-indexed hybrid adjustable-rate mortgages (ARMs) averaged 3.10% this week with an average 0.5 point, up from last week when they averaged 3.02%. A year ago, 5-year ARMs averaged 2.68%.
1-year Treasury-indexed ARMs averaged 2.44% this week with an average 0.4 point, down from last week when they averaged 2.49%. At this time last year, the 1-year ARM averaged 2.62%.
The Dow Jones Industrial Average rose 58.83 points (0.4%) to 16,323. The S&P 500 increased 8.58 points (0.5%) to 1,857. The NASDAQ jumped 4.53 points (0.1%).
The Week Ahead
Thursday, April 3
Jobless Claims (8:30 a.m. ET) – New unemployment claims are compiled weekly to show the number of individuals who filed for unemployment insurance for the first time.
Bloomberg Consumer Comfort Index (9:45 a.m. ET) – The Bloomberg Consumer Comfort Index is a weekly, random-sample survey that tracks Americans’ views on the condition of the U.S. economy, their personal finances and the buying climate.
Friday, April 4
Employment Situation (8:30 a.m. ET) – The employment situation is a set of market indicators based on two separate surveys.
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