US Housing Starts Hit Nine Month High, up 1.4% as Building Permits Rise 9.1% in December

US housing starts rose in December 1.4% to a seasonally adjusted annualized rate of 1.702 mln units versus a consensus 1.650 mln from a revised 1.678 mln units in November (from 1.679 mln). Housing demand remains strong although high prices for building materials, lumber, supply constraints and labor shortages. Building permits rose 9.1% to a seasonally adjusted 1.873 mln in December up from a consensus 1.702 mln and a revised 1.717 mln in November (from 1.712 mln). The move suggests … Continue reading “US Housing Starts Hit Nine Month High, up 1.4% as Building Permits Rise 9.1% in December”

China Consumer Inflation Hits 15 month High With a Jump in Food Prices

Inflation in China rose to 2.3% in November 2021, the highest figure since August 2020 from 1.5% a month earlier. Market consensus was 2.5%. Food prices and a further rise in cost of non-food items both rose. The cost of food increased for the first time in six months. China inflation November 2021 Consumer price index CPI 2.3% y/y, vs expected 2.5% y/y, prior 1.5% CPI 0.4% m/m, vs expected 0.4% y/y, prior 0.7% Highest since August 2020, boosted by … Continue reading “China Consumer Inflation Hits 15 month High With a Jump in Food Prices”

US Housing Starts Rose 3.9% in August Surging in The Northeast 167.2%

US housing starts rose in August 3.9% m/m vs -7% prior, or 1615K v July’s revised 1554K. Starts surged the most in the Northeast (167.2% to the highest level since January). Building permits rose 6.0% m/m ighest level since April.

China Consumer and Producer Inflation Pace Quickens in March

Inflation in China came in higher than expected levels for both the consumer and producer in March. CPI 0.4% y/y (vs. expected 0.3%) & PPI 4.4% y/y ( vs. expected 3.6%) the quickest pace of increase since 2018.  China Inflation March 2021 Consumer price index CPI 0.4% y/y, vs expected 0.3% y/y, prior – 0.2% for the m/m at -0.5% This was the highest reading since October 2020. On a monthly basis, consumer prices fell by 0.5 percent in March, … Continue reading “China Consumer and Producer Inflation Pace Quickens in March”

People’s Bank of China Warn on Leverage of Chinese Households

The PBOC issued a research paper on the Chinese households credit situation highlighting that a household credit boom could tend to drag down economic growth more so than corporate debt.  Mortgages are handcuffing China’s economic potential, as funding is redirected toward real estate and away from more productive uses.

Mortgage Applications Rise 26.8% as Refinancing Surges on Lower Rates

Lower long term interest rates in the U.S. have seen refinancing take off, Mortgage applications jumped to their highest level since September 2016. Refinancing activity the highest since November 2016 accounted for 49.8% of mortgage applications

US Mortgage Rates Highest Since Jan 2014, Applications Fall 4%

With all the noise from Wall Street execs and their bonuses the landscape isn’t looking so shiney for main street. We have had the stress of the biggest stock market point crash ever and now we see 30 year loans are at their highest since Jan 2014. no wonder applications 4.1%