- Applications for loans to purchase provided support for overall mortgage applications in the November 24 week.
- Effective interest rates fell in the latest week except for rates on the 30-year Jumbo loans.
- The average size of mortgage loans rose.
Introducing
Kathleen Stephansen, CBE
in:Our Authors
Kathleen Stephansen is a Senior Economist for Haver Analytics and an Independent Trustee for the EQAT/VIP/1290 Trust Funds, encompassing the US mutual funds sponsored by the Equitable Life Insurance Company. She is a former Chief Economist of Huawei Technologies USA, Senior Economic Advisor to the Boston Consulting Group, Chief Economist of the American International Group (AIG) and AIG Asset Management’s Senior Strategist and Global Head of Sovereign Research. Prior to joining AIG in 2010, Kathleen held various positions as Chief Economist or Head of Global Research at Aladdin Capital Holdings, Credit Suisse and Donaldson, Lufkin and Jenrette Securities Corporation.
Kathleen serves on the boards of the Global Interdependence Center (GIC), as Vice-Chair of the GIC College of Central Bankers, is the Treasurer for Economists for Peace and Security (EPS) and is a former board member of the National Association of Business Economics (NABE). She is a member of Chatham House and the Economic Club of New York. She holds an undergraduate degree in economics from the Universite Catholique de Louvain and graduate degrees in economics from the University of New Hampshire (MA) and the London School of Economics (PhD abd).
Publications by Kathleen Stephansen, CBE
USA| Nov 02 2023U.S. Initial Jobless Claims Slightly Up in October 28 Week
- Latest week up 5,000 from week before.
- Continuing claims up 35,000 to 1.818 million.
- Insured unemployment rate still at 1.2%; high during 2023 just 1.3%.
- Total applications declined again in the latest week.
- Mortgage interest rates were relatively stable.
- Applications for purchase loans & refinancing declined.
USA| Oct 04 2023U.S. Mortgage Applications Dropped in the Last Week of September
- Total applications plummeted 6.0%.
- Purchase applications fell 5.7%
- Effective rate on loans to purchase 7.76%, high since late 2000.
USA| Sep 26 2023U.S. New Home Sales & Prices Drop in August
- Sales decline in August.
- Regional sales drop, except for the 6.7% rise in the Northeast.
- Median sales price drop last month.
USA| Sep 06 2023U.S. Mortgage Applications Dropped in Latest Week
- Loans to purchase and to refinance dropped in the latest week.
- Rates fell modestly.
- Average loan size declined.
USA| Aug 31 2023U.S. Chicago Business Barometer Improves Again in August
- Index remains below the 50-expansion level.
- New orders & production indexes rise above the expansion level.
- Prices paid index rebounds.
USA| Aug 17 2023Initial Claims Eased in the Latest Week
- Initial claims declined 11,000 to 239,000 in the week of August 12.
- Continuing claims rose a moderate 32,000 in the week of August 5.
- Insured unemployment rate inched up to 1.2% in the week of August 5.
USA| Aug 15 2023Empire State Factory Index Fell Sharply in August
- New York business activity fell sharply in August.
- Components were weak.
- Expectations six months ahead improved.
USA| Aug 10 2023Initial Claims Rose in the First Week of August
- Initial claims rose more than expected in the latest week.
- Continuing claims declined marginally.
- Insured unemployment rate holds steady at just 1.1%.
USA| Jul 28 2023U.S. Employment Cost Index Slows Modestly in Q2
- Compensation growth for all workers slows in Q2.
- Wages grew 1.0% q/q and benefits grew 0.9% q/q in Q2.
- Compensation in goods-producing industries was weaker than in service-providing industries.
USA| Jul 27 2023U.S. Durable Goods Orders Surprised Again on the Upside in June
- Total orders jumped 4.7% in June.
- Ex-transportation, orders rose a more modest 0.6%.
- Shipments of durable goods rose 0.3%, while total inventories were largely unchanged.
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