Learn Day Trading

The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending February 19, 2010.  The Market Composite Index, a measure of mortgage loan application volume, decreased 8.5 percent on a seasonally adjusted basis from one week earlier.  On an unadjusted basis, the Index decreased 7.3 percent compared with the previous week.

“As many East Coast markets were digging out from the blizzard last week, purchase applications fell, another indication that housing demand remains relatively weak,” said Michael Fratantoni, MBA’s Vice President of Research and Economics. “With home prices continuing to drift amid an abundant inventory of homes on the market, potential homebuyers do not see any urgency to lock in purchases.” Equities to watch on these numbers include: Home builders, mortgage lenders, and home furnishings companies.

Crude oil inventories had a build of 3.0 million barrels. During economic downturns the demand for oil in the global market would have declined and the supply of oil will build. If inventories are rising then oil prices will be pushed down. Equities to watch on these numbers include: Oil Well, refineries and gas operations.

New home sales were difficult due to the winter snowstorms and had a lower-than-expected annual rate of 309k versus 360k consensus in January. New home sales fell 7.6% in December and down 22.9% in 2009.

New home sales provide demand for housing of newly constructed homes with a committed sale during the month. Equities to watch on these numbers include: Home builders, mortgage lenders, and home furnishings companies.

All Right Reserved TraderMongers.com © 2010

Shamim Ziyaaudhin is one of the editors of TraderMongers.com, a one stop trading news feed source for worldwide traders and investors. Their philosophy is to establish the standard for providing market news feed that is comprehensive, accurate, and concise. Providing technical and fundamental trading setups, economic numbers, and calendar events throughout the trading day. Shamim has a Masters in Business Administration from Fairleigh Dickinson University and holds a degree in Psychology from Rutgers University.
Article Source

Next Post: Caliber Fx Pro – Final Chance To Grab Your Copy

Thanks for being my loyal visitors ! The MarketClub 2 Week RISK FREE TRIAL is re-open again, no payments information required. Here's your last chance to join them now - http://bit.ly/2-week-free-trial

This entry was posted on Wednesday, February 24th, 2010 at 10:42 pm and is filed under Day Trading. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.