__________________________Prior __Actual
Purchase Index - W/W Change -1.9 % -8.7 %
Refinance Index - W/W Change 7.7 % -15.3 %Composite Index - W/W Change 5.0 % -12.9 %
Bad weather and a holiday shortened week was thought to the reasons behind the sharp drop in these home financing indexes.
New Home Sales For wk1/21, 2011_____________Prior __Est___ActualHome Sales 280k 300k 329k
EIA Weekly Petroleum Report
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| Crude Oil Supplies as of 1/21/11 340.6 up 4.8 for the week Up 13.9 from yr-ago Crude Oil Prices 89.11 Down 2.43 for the week Up 14.57 from yr-ago |
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| Gasoline Stocks as fo 1/21/11 230.1 Up 2.4 for the week Up 0.6 from Yr-ago Prices 2.459 Down 0.036 for the week Up 0.493 frm Yr-ago |
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| Distillate Stocks 165.7 Down 0.1 for the week Up 8. from Yr-ago Prices 2.651 Up 0.006 for the week Up 0.709 from Yr-ago |
Excerpt from press release:
For immediate release:
"Information received since the Federal Open Market Committee met in December confirms that the economic recovery is continuing, though at a rate that has been insufficient to bring about a significant improvement in labor market conditions. Growth in household spending picked up late last year, but remains constrained by high unemployment, modest income growth, lower housing wealth, and tight credit. Business spending on equipment and software is rising, while investment in nonresidential structures is still weak. Employers remain reluctant to add to payrolls. The housing sector continues to be depressed. Although commodity prices have risen, longer-term inflation expectations have remained stable, and measures of underlying inflation have been trending downward."
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