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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (12468)	9/29/2004 8:45:59 AM
From: mishedlo	Respond to of 116555

Mortgage applications activity higher in latest week Wednesday, September 29, 2004 11:17:03 AM WASHINGTON (AFX) -- The volume of mortgage applications tracked by the Mortgage Bankers Association rose 4.9 percent in the week ended Sept. 24 compared to the prior week. Also on a seasonally adjusted basis, the MBA's index gauging purchase applications increased 2.7 percent, with refinancings advancing 7.7 percent from week to week. Refinancings accounted for 45.9 percent of mortgage activity, up from 44.5 percent in the prior week, while adjustable-rate mortgages made up 32.5 percent of applications, down from 33.1 percent. The MBA said average contract interest rates slipped for 30- and 15-year fixed-rate mortgages, to 5.64 percent from 5.66 percent and to 4.99 percent from 5.02 percent a week earlier, respectively. One-year ARMs saw their rates increase to 3.92 percent from 3.89 percent

To: mishedlo who wrote (12468)	9/29/2004 8:48:41 AM
From: mishedlo	Respond to of 116555

UK Sept consumer confidence index drops to lowest since March 2003 -GfK UPDATE Wednesday, September 29, 2004 10:16:05 AM afxpress.com (Updating with details of survey components) LONDON (AFX) - The consumer confidence headline index for the UK fell to -7 from -5 in August, the lowest measure since March 2003, before the end of the Iraq war, according to a survey by research company GfK Martin Hamblin The five-year average has now fallen to -1 from 0 "It seems highly likely that it is the reports of falling house prices, the impact of interest rate rises and anticipation of another interest rate rise before the end of the year which are the factors that are influencing this month's decline in consumer confidence," said Grant Montague, divisional director at GfK Four out of the five measures that contribute to the headline index score have decreased this month, most notably perceptions of the household financial situation over the last 12 months and the major purchases measure, the research group said GfK's survey showed that perceptions of the general economic situation in the country over the last twelve months has fallen to -26 from -24 in August. Expectations for the next twelve months remain at -17 The major purchases climate fell to +4 from +7 in August, the lowest it has been since the end of 1999. The perception of whether now is a good time to save stands at +20 from +22 in August, maintaining levels seen over the last three months, GfK said Meanwhile, perceptions of the development of personal finances over the last twelve months has fallen by four points to -3 from +1 in August, while expectations for the future dropped to +7 from +8. Both measures are below the annual average, the survey said The survey was conducted on behalf of the European Commission amongst a sample of 2005 individuals aged 16 and above between Sept 2 and Sept 21 The figures have an estimated margin of error of plus or minus 2 pct