September. So again, in fits and starts we are seeing better news out of the Housing Market. Home builders rallying on the news, we have pulte group and all of them up 1 to 3 . Even as Mortgage Applications explode we got that data as well. On the other hand, going down below 86 a barrel just as the cme trader warned you on monday that it would. He actually said i see no were to go but 86, it is ahortterm trade and we are below 86 at 8582, prices falling 1 5 great day in a row but moving lower today it closed above 85. 69 which was yesterday. Lets see what our traders can predict. It is the one, the only fox business 4 show on countdown to the closing bell. We have traders at the cme and the nymex, with your prediction now we have the Federal Reserve, they could have reached in but spend a lot of time . The fact of the matter is theres nothing left for them to say unless they offer some surprises and that is not likely all the you have to be concerned with ben bernanke starting to let
Today, Chair Jerome Powell will speak after the Federal Open Markets Committee meeting ends and job opening data will give us a better picture of the labor market.
Mortgage activity took the usual hit over the last two weeks as the country celebrated a variety of religious and secular holidays. The Mortgage Brokers Association (MBA) was closed during Christmas Week, so this morning’s report encapsulates the December 18 to December 29 period. MBA said its Market Composite Index, a measure of mortgage loan application volume, declined 9.4 percent on a seasonally adjusted basis compared to two weeks earlier. On an unadjusted basis, the Index decreased 38 percent.   The unadjusted Refinance Index fell 43 percent below its prior reported level but was 15 percent higher than the same week one year ago. The refinance share of mortgage activity accounted for 36.3 percent of total applications. The previously reported share was 39.4 percent. [refiappschart] The seasonally adjusted Purchase Index declined by 5 percent over the holiday period while the unadjusted Purchase Index fell 34 percent. The Index was down by 12 percent
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