Mortgage rates for a 30-year fixed rate loan fell to 4.08 percent since last week, the lowest in nearly a year and a half. In addition to falling mortgage rates, the the purchase application volume decreased 1 percent and the refinance application volume increased 11 percent over the same period.
Construction spending in the US declined in June, according to the US Census Bureau. Total residential spending declined 0.3 percent from May, although construction spending is 7.4 percent higher in June compared to last year.
US total unemployment increased to 12.2 percent in July, according to Bureau of Labor Statistics. The traditionally-reported unemployment rate also rose to 6.2 percent.
Pending home sales in the US declined 1.1 percent in June, according to the National Association of Realtors. There are conditions that deter potential buyers, such as a shortage of homes in parts of the country.
New home sales in the US fell 8.1 percent in June, signaling that real estate is still a weak spot in the US economy. June US new home sales are also 11.5 percent below June 2013 levels.
National economic activity weakened in June, according to the Chicago Federal Reserve National Activity Index. The Chicago Federal Reserve's index used 85 indicators of national economic activity in four overall categories.
US retail sales rose 0.2 in June from May and are up 4.3 percent since last year, according tot he US Census Bureau. Sales of nominal 'discretionary items' such as home furnishings and consumers fell from May's levels but are higher compared to last year.
Mortgage rates for 30 year and 15 year fixed rate mortgages went up, according to the Mortgage Bankers Association. Mortgage rates, however, are still down from the sky-high levels back in 2007 before the Great Recession and the housing market collapsed.
'Total unemployment' declined to 12.1 percent in June, while traditionally-reported unemployment rate also went down to 6.1 percent. The US Bureau of Labor Statistics released its report last week.
The US Census Bureau released the latest read on construction spending Tuesday, showing a mixed bag for May. Both total private construction spending and single family construction spending declined, but non-residential construction spending increased.
National economic activity grew in May, according to the Chicago Federal Reserve National Activity Index. The index looks at 85 indicators that fall under four categories such as 'employment, unemployment, and income' and 'sales, orders, and inventories.'
In March, 79,476 people were removed from SNAP. The number of households receiving food stamps benefits has fallen 2.76 percent since last year.
Mortgage rates for a 30-year fixed mortgage fell four basis points to 4.16 percent since last week. Mortgage rates have been falling steadily since the beginning of 2014.
The US Department of Labor released its employment situation report on Friday. Less workers were employed for 27 weeks or longer, but the US still has a long way to go before returning to pre-recession levels.
The US Department of Labor released its weekly jobless claims report on Thursday. Initial unemployment claims increased by 8,000, but continued unemployment claims decreased by 20,000.
The private sector added 179,000 jobs in May, according to the ADP's latest National Employment Report. This brought up total employment level 2.06 percent higher than it was in May 2013.
The US Census Bureau released their latest read on construction spending. Total private construction spending and single family construction spending since March has gone up, while non-residential construction spending declined.
The US Census Department released its monthly New Residential Home Sales Report for April on Saturday. Sales are improving, but home sales aren't at the level as they were in recent years.
The average rate for a 30 year fixed rate mortgage (from FHA and conforming GSE data) decreased 2 basis points to 4.34 percent since last week while the purchase application volume declined 4 percent and the refinance application volume declined 7 percent over the same period.
Private employers added 220,000 jobs during the month of April, bringing the total employment level 2.06% above the level seen in April 2013.