Economic Collapse

[basserdan]

7:00a MBA Mortgage Applications
Composite Index - W/W 4.9% actual vs 0.3% prior
Purchase Index - W/W 2.0% actual vs 8.0% prior
Refinance Index - W/W 7.0% actual vs -3.0% prior
Definition
The Mortgage Bankers' Association compiles various mortgage loan indexes. The purchase applications index measures applications at mortgage lenders. This is a leading indicator for single-family home sales and housing construction.


10:00a Existing Home Sales
Annual Rate 5.880M actual vs 6.000M (rev) prior
Month over Month -2.0% actual vs 2.2% (rev) prior
Year over Year -1.5% actual vs 1.7% (rev) prior
Consensus Outlook
Existing home sales rebounded strongly to a 5.990 million annual rate and back toward the 6-million-plus rates early in the year. Econoday's consensus for August is a 5.900 annual rate.
Definition
Existing home sales tally the number of previously constructed homes, condominiums and co-ops in which a sale closed during the month. Existing homes (also known as home resales) account for a larger share of the market than new homes and indicate housing market trends.


10:30a EIA Petroleum Inventories
Crude Oil Inventories - W/W -3.5M barrels actual vs -6.4M barrels prior
Gasoline Inventories - W/W 3.5M barrels actual vs -1.9M barrels prior
Distillate Inventories - W/W -2.6M barrels actual vs -1.7M barrels prior
Definition
The Energy Information Administration (EIA) provides weekly information on petroleum inventories in the U.S., whether produced here or abroad. The level of inventories helps determine prices for petroleum products.