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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: russwinter who wrote (19869)	10/13/2004 9:07:25 AM
From: jimsioi	Read Replies (1) \| Respond to of 110194

If my math is correct above ground stocks = about 13K contracts 155,ooo tonnes times 2200 pounds per ton = 341 million pounds Such an amount divided by 25,000 pounds per Comex contract equals 13640 contracts....OVer 100,OOO contracts outstanding...Hmm...

To: russwinter who wrote (19869)	10/13/2004 9:27:59 AM
From: ild	Respond to of 110194

WASHINGTON, D.C. (October 13, 2004)—The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending October 8. The Market Composite Index of mortgage loan applications - a measure of mortgage loan applications - was 658.2, a decrease of 9.2 percent on a seasonally adjusted basis from 724.8 one week earlier. On an unadjusted basis, the Index decreased 9.2 percent compared with last week but was up 0.7 percent compared with the same week one year earlier. The MBA seasonally adjusted Purchase Index decreased by 4.9 percent to 436.3 from 459.0 the previous week. The seasonally adjusted Refinance Index decreased by 14.2 percent to 1949.2 from 2270.8 one week earlier. Other seasonally adjusted index activity included the Conventional Index, which decreased 8.9 percent to 975.5 from 1070.9 the previous week. The Government Index decreased 12.6 percent to 128.9 from 147.5 the previous week. The refinance share of mortgage activity decreased to 44.5 percent of total applications from 47.1 percent the previous week. The adjustable-rate mortgage (ARM) share of activity increased to 34.9 percent of total applications from 33.9 percent the previous week. The average contract interest rate for 30-year fixed-rate mortgages decreased to 5.69 percent from 5.78 percent one week earlier, with points decreasing to 1.30 from 1.36 the previous week (including the origination fee) for 80 percent loan-to-value (LTV) ratio loans. The average contract interest rate for 15-year fixed-rate mortgages decreased to 5.06 percent from 5.20 percent one week earlier, with points decreasing to 1.32 from 1.36 the previous week (including the origination fee) for 80 percent LTV loans. The average contract interest rate for one-year ARMs decreased to 3.87 percent from 3.97 percent one week earlier, with points increasing to 1.18 from 1.16 from the previous week (including the origination fee) for 80 percent LTV loans.