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ECON: Spending Hits Expectations While Incomes Decelerate
Posted to: Micro News
Monday, December 23, 2013 8:43 AM

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- Consumer Spending +0.5 vs +0.5 forecast
- Income +0.2 vs +0.5 forecast
- Annual Core PCE Prices +1.1 vs +1.1 previously
- Market Reacion: MBS and Treasuries improved almost imperceptibly, but it wasn't clearly a result of the data.

Personal outlays -- PCE, personal interest payments, and personal current transfer payments -- increased $62.6 billion in November, compared with an increase of $43.9 billion in October. PCE increased $63.0 billion, compared with an increase of $44.2 billion.

Personal income increased $30.1 billion, or 0.2 percent, and disposable personal income (DPI) increased $16.2 billion, or 0.1 percent in November according to the Bureau of Economic Analysis. Personal consumption expenditures (PCE) increased $63.0 billion, or 0.5 percent. In October, personal income decreased $11.7 billion, or 0.1 percent, DPI decreased $25.6 billion, or 0.2 percent, and PCE increased $44.2 billion, or 0.4 percent, based on revised estimates.

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Mortgage Rates:
  • 30 Yr FRM 4.44%
  • |
  • 15 Yr FRM 3.49%
  • |
  • Jumbo 30 Year Fixed 4.20%
MBS Prices:
  • 30YR FNMA 4.5 106-21 (-0-12)
  • |
  • 30YR FNMA 5.0 109-02 (-0-06)
  • |
  • 30YR FNMA 5.5 110-07 (-0-07)
Recent Housing Data:
  • Mortgage Apps 4.30%
  • |
  • Refinance Index 6.92%
  • |
  • FHFA Home Price Index 0.67%