All Paper Economy

Construction spending increased 1.21 percent from July and 20.46 above the level seen in August 2012, according to the US Census Bureau.

Jobless claims declined by 15,000 to 358,000 claims from 373,000 claims for the prior week, according to the latest jobless claims report.

The average rate for a 30-year fixed rate mortgage climbed to 4.31 percent since last week, while the purchase application volume fell five percent. 

Mortgage rates declined 6 basis points to 4.28 percent since last week, according to the latest data from the Mortgage Bankers Association. As a result of Federal Reserve Chairman Ben Bernanke's abrupt turn-around on the 'tapering' issue, mortgage rates appear now to be pulling back notably after weeks of explosive increases.

Unemployment claims increased by 66,000 to 374,000 from 308,000 unemployment claims for the prior week. Currently, there are some 1.44 million people receiving federal 'extended' unemployment benefits. 

The service industry took a hit in September, with the Institute for Supply Management's overall non-manufacturing index falling to 54.4 from last month's reading of 58.6.

'Initial' unemployment claims increased by 1,000 to 308,000 claims, and 'continued' claims jumped 104,000 to 2.925 million claims. 

Recently proposed cuts to the federal food stamps program would return the program to 2011 spending levels, still providing benefits to roughly 45.7 million individuals. SoldAtTheTop dismisses Keynesian arguments against the proposal and argues 'limited government' to be a dead philosophy. 

Manufacturing activity improved in September, according to the latest report from the Institute for Supply Management. The purchasing manager’s composite index (PMI) rose 0.5 percent from August.

The average rate for a 30-year fixed rate mortgage dropped to 4.47 percent last week, and the purchase application volume increased 7 percent. 

Pending home sales declined 1.6% in August, still a 5.8% increase from August of last year. 

Jobless claims fell by 5,000 to 305,000 claims from 310,000 claims for the prior week. Currently there are some 1.34 million people receiving federal 'extended' unemployment benefits. 

New home sales jumped 7.9 percent in July and 12.6 percent above the level seen in August 2012, according to the US Census Department.

Newly released S&P/Case-Shiller home price indices, data that forecasts U.S. house price, continues to demonstrate significant resiliency compared to past years. The index shows prices rose notably in late spring. 

The latest release of the Chicago Federal Reserve National Activity Index (CFNAI) indicated that the national economic activity improved in August with the index climbing to a level of 0.14 from a level of -0.43 in July while the three month moving average improved to a level weak of -0.18. 

The jobless claims report released by The U.S. Department of Labor yesterday showed an increase to both initial jobless claims and a decline to continued unemployment claims in the last week.

The average rate for a 30-year fixed rate mortgage climbed to 4.68 percent since last week, and purchase applications fell by 3 percent. 

Total industrial production climbed 0.41 percent since July and 2.66 percent above the level seen in August 2012. 

Jobless claims dropped to below 300,000 for the first time since mid-2007, according to the latest data. But the drop appears to be because of under-reporting and the jobless claims number will likely be revised upward.