- Purchase applications -1.0% w/w, third decline in four weeks; refinancing loan applications +5.1% w/w, first rise since the March 6 week.
- Effective interest rate on 30-year fixed loans down 8bps to 6.60%, a four-week low.
- Average loan size up to the highest level since the March 13 week.
Introducing
Winnie Tapasanun
in:Our Authors
Winnie Tapasanun has been working for Haver Analytics since 2013. She has 20+ years of working in the financial services industry. As Vice President and Economic Analyst at Globicus International, Inc., a New York-based company specializing in macroeconomics and financial markets, Winnie oversaw the company’s business operations, managed financial and economic data, and wrote daily reports on macroeconomics and financial markets. Prior to working at Globicus, she was Investment Promotion Officer at the New York Office of the Thailand Board of Investment (BOI) where she wrote monthly reports on the U.S. economic outlook, wrote reports on the outlook of key U.S. industries, and assisted investors on doing business and investment in Thailand. Prior to joining the BOI, she was Adjunct Professor teaching International Political Economy/International Relations at the City College of New York. Prior to her teaching experience at the CCNY, Winnie successfully completed internships at the United Nations. Winnie holds an MA Degree from Long Island University, New York. She also did graduate studies at Columbia University in the City of New York and doctoral requirements at the Graduate Center of the City University of New York. Her areas of specialization are international political economy, macroeconomics, financial markets, political economy, international relations, and business development/business strategy. Her regional specialization includes, but not limited to, Southeast Asia and East Asia. Winnie is bilingual in English and Thai with competency in French. She loves to travel (~30 countries) to better understand each country’s unique economy, fascinating culture and people as well as the global economy as a whole.
Publications by Winnie Tapasanun
USA| Apr 13 2026U.S. Existing Home Sales Drop in March to a Nine-Month Low
- March sales -3.6% m/m to lower-than-expected 3.98 mil.; -1.0% y/y, fifth straight y/y decrease.
- Broad-based regional m/m declines: Northeast (-8.5%), Midwest (-4.2%), South (-3.1%), West (-1.3%); y/y sales up in the South and West but down in the Northeast and Midwest.
- Median sales price +2.7% (+1.4% y/y) to $408,800, highest since November.
- Unsold inventory +3.0% (+2.3% y/y) to four-month-high 1.36 mil. units; 4.1 months' supply.
- Factory orders virtually unchanged (+3.7% y/y) in Feb. for second straight month; still 7.6% above the Jan. ’24 low.
- Durable goods orders (-1.3%), fourth m/m fall in five mths.; nondurable goods orders (+1.5%), largest of three successive m/m gains; shipments (+1.4%), fourth m/m rise in five mths.
- Transportation orders -5.3% m/m, led by a 28.6% plunge in nondefense aircraft orders.
- Unfilled orders +0.1%, smallest of seven straight m/m increases.
- Inventories +0.1%, holding within a narrow 0.1%-0.2% range for four consecutive mths.
USA| Apr 07 2026U.S. Durable Goods Orders Fall in February, Led by a Plunge in Nondefense Aircraft Orders
- Headline orders -1.4% (+7.3% y/y) in Feb., fourth m/m decline in five mths.
- Nondefense aircraft & parts -28.6% m/m following January’s -1.7%.
- Transportation orders -5.4%, down for the fourth time in five mths.; orders ex transportation +0.8%, 10th straight m/m rise.
- Core capital goods shipments +0.9%, fifth m/m gain in six mths.
- Durable goods shipments +1.3%; unfilled orders +0.1%; inventories +0.1%.
USA| Apr 06 2026U.S. ISM Services PMI Slips in March, Still Indicating Expansion for the 21st Straight Month
- ISM Services PMI at 54.0 in Mar., down 2.1 pts. from Feb.; below forecasts but above the 12-month avg. of 52.3.
- Business Activity (53.9, 21st straight month of expansion); New Orders (60.6, 10th consecutive month of expansion and fastest since Feb. ’23); Employment (45.2, first contraction since Nov.); Supplier Deliveries (56.2 vs. 53.9).
- Prices Index (70.7) indicates prices rising since June ’17, the fastest pace since Oct. ’22.
USA| Apr 01 2026U.S. ADP Private Employment Growth in March Above Forecasts
- Private payrolls +62K in March, ninth straight m/m gain.
- Hiring increase driven by small businesses (+85K), strongest since August.
- Service-sector jobs up (+32K), led by education & health svs. (+58K) and information (+16K), partly offset by trade, transp. & utilities (-58K).
- Goods-producing jobs up (+30K), driven by construction (+30K).
- Wage growth accelerates y/y for job changers (6.6%, a three-month high) but steady for job stayers (4.5%).
USA| Mar 31 2026U.S. FHFA House Price Growth Continues to Decelerate in January
- FHFA HPI +0.1% (+1.6% y/y) in Jan., the smallest of four straight m/m gains.
- House prices up m/m in six of nine census divisions, led by East South Central (+1.7%), but down in West South Central (-0.7%), South Atlantic (-0.4%), and East North Central (-0.1%).
- House prices up y/y in six of nine regions, led by East North Central (+4.4%), but down in West South Central (-0.8%) and Pacific (-0.5%).
USA| Mar 30 2026Texas General Business Activity Slightly Negative in March Amid Uncertainty; Expectations Still Positive
- General Business Activity -0.2 in Mar. vs. +0.2 in Feb.; negative for the 12th time in 14 mths.
- Company Outlook (-3.5) and Production (6.8) at three-month lows.
- New Orders Growth (2.2) positive for a second mth.; New Orders (6.1) lowest since Dec.
- Employment (-1.0) negative for the first time in three mths.
- Prices Received up 0.5 pt. to 18.4; Prices Paid up 1.0 pt. to 32.7.
- Future General Business Activity down 2.1 pts. to 10.6, still positive for the 11th straight mth.
- Import prices +1.3% m/m (+1.3% y/y) in Feb., led by a 3.8% rebound in fuel import prices.
- Excluding fuels, import prices +1.1% m/m (+2.5% y/y) after a 0.8% Jan. increase.
- Export prices +1.5% m/m (+3.5% y/y), driven by a 1.7% gain in nonagricultural exp. prices.
USA| Mar 23 2026U.S. Construction Spending Unexpectedly Declines in January
- Headline -0.3% m/m, first monthly decrease in three mths.; +1.0% y/y for the second straight mth.
- Residential private construction -0.8% m/m, led by a 1.4% drop in home improvement building.
- Nonresidential private construction -0.4% m/m, sixth fall in seven months.
- Public construction +0.6% m/m, driven by a 0.6% rebound in nonresidential public building.
- January sales -17.6% m/m (-11.3% y/y) to 587,000, third m/m fall in four months.
- Sales m/m down in all four regions; sales y/y down in the West (-28.7% y/y) and South (-8.8% y/y).
- Median sales price down to $400,500; avg. price down to $499,500—both at six-month lows.
- Months' supply rises to 9.7 mths., highest since Oct. ’22.
- January factory orders +0.1% m/m (+4.4% y/y); second m/m gain in three months and 7.7% above the Jan. ’24 low.
- Durable goods flat; nondurable goods orders +0.3% m/m; shipments +0.5% m/m.
- Transportation orders -0.8% m/m, led by a 23.8% plunge in defense aircraft orders.
- Unfilled orders +0.8%, the sixth straight m/m rise.
- Inventories +0.1%, the third consecutive m/m increase.
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