MBA Mortgage Applications (week ended 7/10/2020)

- Purchase Index week/week -6.0%. Previous weeks were +5.0%, -1.0%, -3.0%, +4.0%, +5.0%, +5.0%, +9.0%, +6.0%. +11.0%, +6.0%, +1.0%, +12.0%, -2.0%, and -2.0%
- Refinance Index Week/Week +12.0%. Previous weeks were +0.4%, -2.0%, -12.0%, +10.0%, +11.0%, -9.0%, -0.2%, -6.0%, -3.0%, -2.0%, -7.0%, -1.0%, +10.0%, -19.0%, +26.0%, and -34.0%
- Composite Index Week/Week +5.1$. Previous weeks were +2.2%, -1.8%, -8.7%, +8.0%, +9.3%. -3.9%, +2.7%, -2.6%, +0.3%, +0.1%, -3.3%, -0.3%, +7.3%, -17.9%, and +15.3%

This data is seasonally adjusted but seasonal adjustments are making for strange numbers. Purchase applications were +5.0% week/week and +16% year/year. the problem I have is that we are
usual seasonal adjustments based on what has happened in the past. What's happening at present is affected by the pandemic rendering reading of this data less useful than usual.

Source: Mortgage Bankers Association Details: https://www.mba.org/2020-press-releases/july/mortgage-applications-increase-in-latest-mba-weekly-survey-x271130

Import and Export Prices (June 2020)

- Import Prices month/month 1.4%. Previous was 0.8%
- Export Prices month/month 1.4%. Previous was 0.4%
- Import Prices year/year -3.8%. Previous was -6.2%
- Export Prices year/year -4.4%. Previous was 6.2%

Source: BLS Details: https://www.bls.gov/news.release/pdf/ximpim.pdf

 

Industrial Production (June 2020)

- Production month/month 5.4%. Previous was 1.4%
- Manufacturing month/month 7.2%. Previous was 3.8%
- Capacity Utilization Rate 68.6%. Previous was 64.8%

Industrial Production is 10.9% below its pre-pandemic February level. The current wave of reclosings is not going to help.

Source: Federal Reserve Details: https://www.federalreserve.gov/releases/g17/current/default.htm