According to the Mortgage Bankers Association, the total number of mortgage applications plunged last week by 5.7% and erased all of the prior weeks' gain. The drop lowered December 1.0% below November. Purchase applications reversed [...]
Introducing
Tom Moeller
in:Our Authors
Prior to joining Haver Analytics in 2000, Mr. Moeller worked as the Economist at Chancellor Capital Management from 1985 to 1999. There, he developed comprehensive economic forecasts and interpreted economic data for equity and fixed income portfolio managers. Also at Chancellor, Mr. Moeller worked as an equity analyst and was responsible for researching and rating companies in the economically sensitive automobile and housing industries for investment in Chancellor’s equity portfolio. Prior to joining Chancellor, Mr. Moeller was an Economist at Citibank from 1979 to 1984. He also analyzed pricing behavior in the metals industry for the Council on Wage and Price Stability in Washington, D.C. In 1999, Mr. Moeller received the award for most accurate forecast from the Forecasters' Club of New York. From 1990 to 1992 he was President of the New York Association for Business Economists. Mr. Moeller earned an M.B.A. in Finance from Fordham University, where he graduated in 1987. He holds a Bachelor of Arts in Economics from George Washington University.
Publications by Tom Moeller
Global| Dec 14 2005Mortgage Applications Plunged
by:Tom Moeller
|in:Economy in Brief
- Global| Dec 14 2005
Import Prices Fell Broadly
The 1.7% decline in import prices last month was three times expectations for a 0.5% drop. The main source of last month's price weakness was an 8.0% drop in petroleum prices. Crude oil prices fell 6.2% and "other" petroleum prices [...]
by:Tom Moeller
|in:Economy in Brief
- Global| Dec 14 2005
U.S. Trade Deficit Widened Unexpectedly
The October U.S. foreign trade deficit widened to a record $68.9B from a little revised $66.0B in September. Consensus expectations had been for a narrowing to $62.5B. In the wake of Hurricanes Katrina & Rita imports of petroleum [...]
by:Tom Moeller
|in:Economy in Brief
- Global| Dec 14 2005
U.S. Trade Deficit Widened Unexpectedly
The October U.S. foreign trade deficit widened to a record $68.9B from a little revised $66.0B in September. Consensus expectations had been for a narrowing to $62.5B. In the wake of Hurricanes Katrina & Rita imports of petroleum [...]
by:Tom Moeller
|in:Economy in Brief
- Global| Dec 13 2005
Fed Funds Rate Raised to 4.25%
The target interest rate for Federal funds was raised 25 basis points to 4.25% at the latest meeting of the Federal Open Market Committee. The unanimous decision was widely expected by analysts. The discount rate also was raised 25 [...]
by:Tom Moeller
|in:Economy in Brief
- Global| Dec 13 2005
Small Business Optimism Down, Pricing Firm
The index of small business optimism from the National Federation of Independent Business (NFIB) fell 2.4% last month and reversed much of October's improvement. The decline was due to fewer (11%) firms expecting the economy to [...]
by:Tom Moeller
|in:Economy in Brief
- Global| Dec 13 2005
U.S. Business Inventories Rise but Slowly
Total business inventories rose 0.3% in October following an unrevised 0.5% gain the prior month. Despite these increases, the ratio of inventories-to-sales held at the record low of 1.25 as business sales increased 0.8% (7.6% y/y). [...]
by:Tom Moeller
|in:Economy in Brief
- Global| Dec 13 2005
JOLTS: U.S. Job Market Firmed Further
The Bureau of Labor Statistics reported that the job openings rate, from the Job Openings & Labor Turnover Survey (JOLTS), rose again in October suggesting a further firming of the US job market. The rate rose to 2.9% from an upwardly [...]
by:Tom Moeller
|in:Economy in Brief
- Global| Dec 13 2005
Chain Store Sales Up: Restrained by Higher Energy Prices?
The International Council of Shopping Centers (ICSC)-UBS survey indicated that chain store sales last week gained back 0.9% of the prior period's 3.1% collapse. Nevertheless, sales so far in December are 2.9% below the November [...]
by:Tom Moeller
|in:Economy in Brief
- Global| Dec 13 2005
U.S. Retail: Less Spent on Gasoline, More on Other Stuff
US retail sales increased 0.3% for the third straight month in November. The increase about matched Consensus expectations for a 0.4% rise and October's gain was upwardly revised. Less autos, retail sales fell 0.3% versus expectations [...]
by:Tom Moeller
|in:Economy in Brief
- Global| Dec 13 2005
Fed Funds Rate Raised to 4.25%
The target interest rate for Federal funds was raised 25 basis points to 4.25% at the latest meeting of the Federal Open Market Committee. The unanimous decision was widely expected by analysts. The discount rate also was raised 25 [...]
by:Tom Moeller
|in:Economy in Brief
- Global| Dec 12 2005
Households' Debt Usage Surged in 3Q
Growth in credit market debt owed by the household sector jumped at a 13.3% rate last quarter, the strongest rate in a year. A 15.5% (13.2% y/y) jump in mortgage obligations lifted the figure but consumer credit also surged at an 8.7% [...]
by:Tom Moeller
|in:Economy in Brief
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