Tag Archives: Capital Economics

Mortgage application activity turned in December to close the year on a positive note, according to data compiled by Capital Economics.

Even as the country barrels closer and closer to the fiscal cliff at the end of the year, Capital Economics is maintaining its projection for modest economic growth in 2013. In the firm's latest US Economics Update, economists Paul Ashworth and Paul Dale take a peek into what they believe is America's likely economic future: GDP growth of 2.0 percent in 2013 followed by 2.5 percent the following year. Of course, there are some major factors that could seriously stifle growth.

A preliminary report from Thomson Reuters and the University of Michigan shows consumer confidence took a major hit to start December. The Thomson Reuters/University of Michigan Index of Consumer Sentiment fell to 74.5, a substantial drop from November's promising 82.7. The median forecast from economists polled by Reuters was 82.4. Richard Curtin, chief economist for the survey, said the decline stems from worries over Washington's apparent lack of progress in fiscal cliff negotiations.

Strong positive indicators in the housing market have Capital Economics revising its predictions on growth in 2013 and beyond.

Mortgage applications went into the holiday season with a strong start, according to data from the Mortgage Bankers Association (MBA).

The ongoing housing recovery will remain sustainable for the foreseeable future, analysts for Capital Economics say.

After reaching a year-to-date high in October, consumer confidence continued to climb in November, according to The Conference Board.

Following a rocky October, mortgage applications picked up for the week ending November 9, according to the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey. The survey's Market Composite Index increased 12.6 percent from the previous week. In a commentary, Capital Economics property economist Paul Diggle said "the balance of evidence increasingly suggests that mortgage-dependent buyers are starting to make more of a contribution to the housing recovery."

Mortgage applications continued to decline in the wake of Hurricane Sandy, according to the Mortgage Bankers Association's data.

Last week's jobs report contained some good news with the bad, but analysts doubt there's enough to influence the presidential election.