Research >> Economics
DJ-BTMU U.S. Business Barometer increased by 0.2%
For the week ending October 3, 2009, the DJ-BTMU U.S. Business Barometer increased +0.2 percent on top of +0.1 percent in the prior week. The business barometer turned around sharply in the third quarter and finished on a very strong note in the latest week. Though only 40 percent of the barometer’s components experienced growth, mortgage application volume absolutely surged, perhaps prompted by the realization that the first-time homebuyer tax credit is set to expire at the end of November. While it is largely expected that Congress will throw a hail Mary pass to buyers and extend the credit at the last minute, there is always the off chance that it will indeed expire thereby creating a sense of “get it while it lasts” in the housing market.
Posted: October 15, 2009 Thursday 10:00 AM