Market Update Report 9/18/2013 | Beacon Rock Wealth Advisors

The KUIK Market Update for Wednesday, September 18:

Markets are flat.

Index	Direction	Change	Units	Last	Time	Change
Dow	Up	40	points	15,490	7:54 AM
S&P500	Down	-0.13%	percent	1,703		(2.23)
Nasdaq Composite	Up	0.02%	percent	3,747		0.84
30 Year Treasury	Up	3	Basis Points	3.87	Annual Yield

The number of mortgage applications filed in the U.S. last week jumped about 11% from the week before on a seasonally adjusted basis as interest rates declined, according to the Mortgage Bankers Association. On an unadjusted basis, MBA reported the market composite index increased 23%. The refinance index grew 18%, while the seasonally adjusted purchase index climbed 3%. The average rate on 30-year fixed-rate mortgages fell to 4.75% from 4.8% and 15-year dropped to 3.81% from 3.83%.

The Department of Commerce said that construction on new homes rose 0.9% in August to a seasonally adjusted annual rate of 891,000. Starts for single-family homes rose 7%, while starts for apartments fell 9.4%.

Oil futures climbed above $106 a barrel after the Energy Information Administration reported a larger-than-expected decline in crude supplies. The EIA reported that crude stockpiles for the week ended Sept. 13 fell 4.4 million barrels. Analysts polled by Platts were looking for a decline of only 1.5 million barrels. Gasoline supplies also fell 1.6 million barrels. Gasoline stockpiles were expected to be unchanged. October crude is $106.09 a barrel, up 0.7%, on the New York Merc.



Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK.

http://www.marketwatch.com/story/us-mortgage-applications-jumped-11-last-week-2013-09-18
http://www.marketwatch.com/story/home-construction-nudges-up-in-august-2013-09-18?link=MW_home_latest_news
http://www.marketwatch.com/story/us-crude-supply-down-44-million-barrels-eia-2013-09-18?dist=markets


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