November 16, 2022 – Economic News

• November 16, 2022
• realestate
• Announcements, Business & Markets, Fed, Interest Rates, Politics & Economy, Rates, Real Estate Finance, Recession, World News, Your Real Estate Life

Domestic Flavor:

Taking it to the House: Weekly Mortgage Applications were actually up 2.7% thanks to a nice bump in Purchase Applications of 4.4%. Refinance Applications continued their free-fall with another -1.6% decline. The November NAHB Housing Market Index was dismal at 33 vs. est. of 36

Retail Sales: The Headline October Retail Sales were up 1.3% on a MOM basis which beat out estimates of 1.0%. Ex Autos, they were also up 1.3% vs. est. of 0.4%. The Control Group was more than double expectations, 0.7% vs. est. of 0.3%.

Genco Olive Oil: October Import Prices decreased by -0.2% vs. of -0.4% MOM. YOY, they were up 4.2% vs. est. of 4.4%. Export Prices MOM -0.3% vs. est. of -0.4%, YOY 6.9% vs. est. of 7.5%

Rosie the Riveter: October Industrial Production was weaker than expected, -0.1% vs. +0.2%. Capacity Utilization also missed the mark, 79.9% vs. est. 80.4%