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FOMC Minutes: Exit Strategy Discussion

Note: I'll have more on existing home sales and Bernanke's testimony later today. From the Fed: Minutes of the Federal Open Market Committee, April 30-May 1, 2013. A few excerpts on the exit strategy:

AIA: Architecture Billings Index indicates decreased demand for design services in April

Note: This index is a leading indicator primarily for new Commercial Real Estate (CRE) investment. From AIA: Architecture Billings Index Reverts into Negative Territory for First Time in Nine Months

Existing Home Sales Report: April 2013

Today, the National Association of Realtors (NAR) released their Existing Home Sales Report for April showin

Existing Home Sales in April: 4.97 million SAAR, 5.2 months of supply

NOTE: Federal Reserve Chairman Ben Bernanke testimony Testimony by Chairman Bernanke on the economic outlook The NAR reports: April Existing-Home Sales Up but Constrained

Reading Rates: MBA Application Survey – May 22 2013

The Mortgage Bankers Association (MBA) publishes the results of a weekly applications survey that covers

LPS: Mortgage Delinquency Rate falls below 6.5% in April, Lowest since July 2008

According to the First Look report for April to be released today by Lender Processing Services (LPS), the percent of loans delinquent decreased in April compared to March, and declined about 10% year-over-year. Also the percent of loans in the foreclosure process declined further in April and were down almost 25% over the last year.

MBA: Mortgage Applications Decrease in Weekly Survey

From the MBA: Mortgage Applications Decrease in Latest MBA Weekly Survey The Refinance Index decreased 12 percent from the previous week. The seasonally adjusted Purchase Index decreased 3 percent from one week earlier. ...

Wednesday: Existing Home Sales, Bernanke Testimony and more

From Tim Duy at Economist'sView: Fed Watch: And Then There is Bernanke. Duy discusses the various Fed speeches this week and concludes:

Fed's Dudley: "Lessons at the Zero Bound: The Japanese and U.S. Experience"

As president of the NY Fed, William Dudley is a key member of the FOMC. He clearly supports QE ... From NY Fed President William Dudley: Lessons at the Zero Bound: The Japanese and U.S. Experience. A few excerpts:

ATA Trucking Index decreases slightly in April

This is a minor indicator that I follow. From ATA: ATA Truck Tonnage Index Fell 0.2% in April

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