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Market News (01/04/2013)
MADISON, Wis. (1/4/13)

  • As the year ended, mortgage applications decreased 21.6% for the week ending Dec. 28 from the week ending Dec. 14. The Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey indicated that the Refinance Index dropped 23.3%, compared with applications for the week ending Dec. 14, which is two weeks earlier instead of the usual one-week comparison because of the holidays. The Dec. 28 index was the third consecutive week refinances have dropped and the lowest level since April. The refinance share of the mortgage activity remained the same--at 82% of the applications for the two weeks.  The seasonally adjusted Purchase Index also decreased--1.48%--from that reported two weeks earlier. Use the link  for the full MBA report
  • Private-sector jobs in the U.S. increased in December by 215,000. That's greater than the 150,000 jobs expected by economists surveyed by Dow Jones Newswires, according to payroll processor Automatic Data Processing Inc. (ADP) and forecasting firm Moody's Analytics (The Wall Street Journal and Moody's Economy.com Jan. 3). Job figures for November were revised higher to 148,000, from the 118,000 estimated during that month. It is the fastest pace of job growth since February, said ADP.  Small companies--with one to 49 workers--increased jobs by 25,000, while medium-sized companies (50-499 employees) hired 102,000 new employees. Larger companies created 87,000 jobs.  The jobs were up in the service sector, but factory jobs lost 11,000 …


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