The Mortgage Bankers Association reported this morning that purchase applications rose three percent in the week ending 5/24/2013. That follows declines in the previous two weeks of three and four percent, respectively. Rising mortgage rates, however, continue to damp refinancing activity; for the week, refinancing activity was down twelve percent. Yesterday’s jump in Treasury rates […]
Tag Archives: Manufacturing
Manufacturing For Richmond Down In May
Manufacturing activity in the Richmond district continues to contract. Though better than April’s reading of negative six, many of the key metrics in this report showed significant declines. For example, Volume of New Orders was down two points from negative eight to negative ten; the Number of Employees declined six points from a positive reading […]
