All Paper Economy

The University of Hong Kong reported a decline in the price of Hong Kong's residential properties from October through November 2013, but overall, those prices are still above those reported in 2012.

Housing starts dropped from November to December in the US, but the Census Bureau reported that the amount of construction was still higher than during the same period in 2012. 

A whopping 110,239 individual recipients were added to the food stamps program with the current total declining 0.29 percent on a year-over-year basis, according to the latest data released by the Department of Agriculture. 

ADP showed private employers added over 238,000 jobs in December, bringing the employment level up 1.91 percent since December 2012.

Business activity slowed in December with the overall non-manufacturing index falling to 53 from last months reading of 53.9.

Housing activity improved in December, with the composite HMI index climbing to 58 while the "buyer traffic" index rose to a level of 44.

The purchase application volume for US mortgages declined 6 percent last week, and the refinance application volume declined 4 percent over the same period.

Mortgage rates rose 11 basis points this week to 4.5 percent, according to the latest mortgage rates data from the Mortgage Bankers Association. 

In September, a whopping 359,389 individual recipients were removed from the food stamps program with the current total declining 0.85 percent on a year-over-year basis, the first annual decline seen since early 2007.

Mortgage rates continued to climb this week, with the rate for a 30-year fixed rate mortgage increasing to 4.39 percent. 15-year mortgage rates also climbed last week. 

According to ADP, private employers added 215,000 jobs in November, bringing the total employment level 1.86 percent above the level seen in November 2012. 

Construction spending declined in October, according to the latest read from the US Census Bureau. Total residential construction spending dropped 0.6 percent from September. 

Pending home sales declined 0.6 percent since September and fell 1.6 percent below the level seen in October 2012, according to the National Association of Realtors. 

Existing home sales fell 3.2 percent since September but rose 6 percent above the level seen in October 2012. 

The NAHB's latest Housing Market Index showed flat housing activity in November. The composite HMI index held at 54 while the 'buyer traffic' index slumped to a level of 42.

Net private sector jobs increased in October climbing 2.10% above the level seen a year ago but remained below the peak level of employment seen in December 2007, according to the latest Employment Situation Report. 

Yesterday's jobless claims report showed a decline for initial unemployment claims and a slight increase to continued unemployment claims. 

The average rate for a 30-year fixed rate mortgage fell to 4.27 percent since last week, while the purchase application volume increased 1 percent and the refinance application volume declined 1 percent over the same period. 

Jobless claims declined by 12,000 to 350,000 claims from 362,000 claims for the prior week, according to the latest jobless claims report.

Home prices increased 0.32 percent from July and rose 8.24 percent above the level seen in August 2012, according the FHFA's monthly home price index.