January 29, 2020
United States:
Loan Applications to Buy U.S. Homes Climb to 11-Year High
“Loan applications to purchase U.S. homes increased to an 11-year high last week as Americans took advantage of a drop in mortgage rates to their lowest since late 2016. The Mortgage Bankers Association’s purchase index climbed 5.3% in the week ended Jan. 24 to 313.7, the best reading since the beginning of 2009, the Washington-based group said Wednesday. The contract rate on a 30-year fixed loan fell to 3.81% from 3.87%.”
Europe:
Germany Lifts Economic Outlook, But Says Better Is Needed
“Germany’s government raised its growth projection for this year and pledged investment to keep Europe’s largest economy competitive as it turns more digital and climate-aware, and its population ages. The administration’s first major assessment this year comes amid signs that Germany is putting the worst of its troubles behind it. A car industry slump and a manufacturing recession held expansion to just 0.6% last year, the weakest since 2013.”
Asia:
China’s Health Scare Tempers High Hopes in U.S. Farm Markets
“Two weeks ago, the U.S. and China completed a phase-one trade deal amid almost immediate doubts that Beijing’s commodity purchase pledges were achievable. That was before a health crisis gripped the world’s second-largest economy, making it even tougher to see how the export sales that President Donald Trump said would make American farmers “so happy” will materialize.”
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