FHFA Housing Price Index a Miss

Released On 3/22/2012 10:00:00 AM For Jan, 2012

	Prior	Consensus	Consensus Range	Actual
M/M change	0.7 %	0.4 %	0.2 % to 0.8 %	0.0 %
Y/Y change	-0.8 %			-0.8 %

The prior of 0.7% has been revised down to 0.1% which is the 9th straight downward revision, remember that chart I posted that was an amalgamation of US economic indicators and it was going down the toilet?

On a year-on-year basis, the FHFA HPI is down 0.8 percent


Combined with yesterday's MBA purchase applications...

Released On 3/21/2012 7:00:00 AM For wk3/16, 2012

Prior Actual Composite Index - W/W Change -2.4 % -7.4 % Purchase Index - W/W Change 4.4 % -1.0 % Refinance Index - W/W Change -4.1 % -9.3 %

and rising rates, don't expect this to get better any time soon.

SRS is up 3%