1. Daily Economic Update
 Mortgage purchase applications shot up 14.4 percent for the week ending
November 19th
. This is encouraging news for the housing market, but seasonal
factors around the Thanksgiving holiday period may be skewing the data.
Purchase applications do not take into consideration cash buyers who
according to the September REALTORS® Confidence Index make up as much as
29 percent of transactions.
 Mortgage purchase applications were down 8.1 percent from the same week a
year ago. Purchase applications are at their highest level post-tax credit.
 Refinances, which made up 78.6 percent of mortgage activity, fell 1.0 percent as
mortgage rates continued to move up at 4.50 percent on a 30-year fixed
mortgage.
 Jobless claims fell 34,000 to 407,000, the lowest since July 2008. Seasonal
adjustment factors may be impacting this data, so data in the next few weeks
should provide more clarity on the labor market.
Produced by NAR Research
November 24, 2010

2. Daily Economic Update
 In October, personal income was up 0.5% and consumer spending increased
0.4%. This is a positive sign heading into the holiday shopping period.
 Consumer Sentiment was up slightly in mid-November to the highest level
since June. The index tracking current conditions jumped the most; however,
the index of consumers’ expectations also rose.
 New home sales were down in October to an annual rate of 283,000, down 8.1
percent from September and 28.5 percent from the previous year.
 Months’ supply was at 8.6 at the current pace.
 The median price of new houses was $194,900, the lowest level since 2003.
 The FHFA price index, showed September home prices falling 0.7% from
August, and 3.4% from the previous year.
Produced by NAR Research
November 24, 2010