Housing Data & Durable Goods Show Strong Marks, Keep Eye on FOMC Minutes

• MBA mortgage applications composite was up 2.8%, driven by a 7.1% jump in refinances, while purchases were down 2.7%.
• MBA 30-year mortgage rate slightly decreased to 6.17% from 6.21%.
• December durable goods orders were down 1.4% (better than -1.8% estimate), and core durable goods orders (excluding transportation) were up 0.9% (better than 0.3% estimate).
• December housing starts rose to 1.404 million (beating 1.310 million estimate) and building permits increased to 1.448 million (beating 1.400 million estimate).
• January FOMC minutes are scheduled for release today at 2 PM ET, with market participants looking for nuances regarding future easing probabilities.

The video discusses recent economic data, highlighting strength in housing and durable goods orders. Mortgage refinances saw a significant jump, and housing starts and permits exceeded expectations. Durable goods orders, while down overall, were better than anticipated, especially core orders. The upcoming FOMC minutes are also noted as a key event for market participants.