Wednesday, April 14, 2010

Daily Forecast Update: Mortgage Applications, CPI, Retail Sales

By Arun Barman, Research Economist 

Mortgage Purchase Applications

  • Mortgage Purchase applications were down 10.5 percent on a seasonally adjusted basis and 10.0 percent non-seasonally adjusted. The unadjusted index was down 17.5 percent from a year earlier.
  • The four week moving average for the purchase index is up 0.9 percent.
  • Refinances were down 9.0 percent, and the market composite index fell 9.6 percent on a seasonal basis.
  • The refinance share of market activity rose slightly to 58.9 percent, down from 58.7 percent.
  • Mortgage rates, according to the MBA survey, fell slightly to 5.17 percent from 5.31 percent the week before on a fixed 30-year mortgage.

Consumer Price Index

  • Consumer prices were up 0.1 percent in March. Over the previous year prices were only up 2.4 percent.
  • Core inflation, which excludes food and energy prices, was unchanged. Compared to the previous year, core prices were 1.2 percent higher in March.
  • The housing component of the CPI was also unchanged.
  • The low inflation rate is a positive for mortgage / interest rates. The Fed looks at inflation closely when making interest rate decisions, so at least on the inflation front, there is not any pressure to raise rates given today's data.

Retail Sales

  • Retail sales were up 1.6 percent in March, following a 0.5 percent increase in February. The first quarter sales were up 5.5 percent from the same period in 2009.
  • Gasoline stations and motor vehicle and parts dealers were especially strong.
  • Furniture and home furnishing which are particularly relevant to the housing sector were up 1.5 percent from February, and 4.2 percent from March 2009.

"Copyright National Association of REALTORS®, Reprinted with permission." 

Free swimming May 1; Car seat class April 28

City of Aliso Viejo
Free swimming, young pop star part of Aquatic Center May 1 opening

Residents who drop by the Aliso Viejo Aquatic Center on May 1 will enjoy free swimming all day and an up-and-coming singing sensation who's making waves in the music industry.

The Opening Season Pool Party at 29 Santa Barbara is from 9 a.m. to 7 p.m. Saturday, May 1. The celebration includes free entry; fun-filled games and activities for all ages; Oasis Cafe specials; and the talents of Yazzie Jay, a rising Orange County talent who is making her transition into the L.A. music scene. Yazzie, 17, is a self-taught artist, who has taught herself the piano, drums, bass, acoustic guitar and electric guitar.

With a 25-meter pool, recreation pool, splash pad and toddler wading pool, the Aliso Viejo Aquatic Center quickly became the hub of activity after its premiere last year. Offering fee-based swimming programs, activities, parties and more, the facility is a popular venue for families, kids, adults, groups and organizations alike.

Guests to the Aquatic Center can enjoy recreation and lap swimming, water aerobics, pool parties, the Oasis Cafe, cabanas and lots of fun activities. The Oasis Cafe offers fresh, delicious, convenient and affordable fare. The center has locker facilities, restrooms and a patio with outdoor fireplace for lounging and relaxing with family and friends.  Season and monthly passes are available for residents who want to enjoy the facilities throughout the season.

The Aquatic Center is conveniently located at Aliso Creek Road and Glenwood Drive, next to the Aliso Viejo Conference Center.  

More planned events are on tap for the season, so be sure to visit  www.cityofalisoviejo.com/AquaticCenter for more information and sign up to the City's eNews at www.cityofalisoviejo.com. Information is also available by calling 949-425-2559.
 
See you at the pool May 1!


Families in need to receive free car seats, thanks to funding received from car seat violations

Aliso Viejo Police Services and the Aliso Viejo Family Resource Center are hosting a car seat education class, including free car seat distribution, on Wednesday, April 28 at the Aliso Viejo Family Resource Center. The class is from 9:30 a.m. to noon.  
 
The class will be conducted in Spanish and English. Parents or guardians must attend the class in order to receive a free car seat.
 
Parents or guardians enrolled in Medi-Cal, AFDC, CalOptima, or WIC, or who are without medical insurance and unable to afford a car seat are eligible to attend the class and receive a free car seat.  Proof of income eligibility and vehicle insurance is required. The child safety seats offered during the class are provided by the County of Orange Health Care Agency.
 
Pre-registration is required. To register, contact Gracie Duran at 949-425-2519.





The City of Aliso Viejo, which incorporated July 1, 2001, encompasses approximately 7 square miles with nearly 48,000 residents.  The City's annual budget is roughly $30 million.  The City supports a thriving business community with companies such as Pacific Life Insurance Co.; United Parcel Service (UPS); Clarient; Valeant Pharmaceuticals; Q-Logic; Lennar Homes; Buy.Com; Fluor Daniel; Pepsi Bottling, Inc.; Shea Homes; the Renaissance ClubSport Hotel; and Bausch and Lomb. Aliso Viejo has 23 parks, vast open space and top-notch amenities including the Aliso Viejo Ranch and the City's new Conference Center and Aquatic Center. The City of Aliso Viejo welcomes you to "Experience It All."  The City is also celebrating 2010 as the Year of the Youth.  For more information, visit www.cityofalisoviejo.com.

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City of Aliso Viejo | 12 Journey | Suite 100 | Aliso Viejo | CA | 92656