Printer Friendly

Economic indicators.

Market Rates and Bond Yields -- %

                                      Apr.        Oct.        Apr.
                                      2004        2003        2003

Reserve Bank Discount                 2.00        2.00        2.25
Prime Rate (monthly average)          4.00        4.00        4.25
Federal Funds Rate                    1.00        1.01        1.26
3-Month Treasury Bills                0.94        0.92        1.13
6-Month Treasury Bills                1.09        1.00        1.14
3-Month Certificates of Deposit       1.08        1.10        1.24
LIBOR-3 month rate                    1.07        1.09        1.23
U.S. 5-Year Bond                      3.39        3.19        2.93
U.S. 10-Year Bond                     4.35        4.29        3.96
U.S. 25+ Year Bond                    5.20        5.24        4.99
Municipal Tax Exempts
  (Aaa)[dagger]                       n/a         4.64        4.74
Municipal Tax Exempts
  (A)[dagger]                         n/a         5.02        5.05
Corporate Bonds (Aaa)                 5.73        5.70        5.74
Corporate Bonds (A)[dagger]           n/a         6.33        6.45
Corporate Bonds (Baa)                 6.46        6.73        6.85

Stock Dividend Yields -- %

Common Stocks -- 500                  1.68        1.71        1.83

(Source: Standard & Poor's)

Other Benchmarks

Industrial Production
  Index[paragraph]*                 115.4       111.8       109.7
(Federal Reserve 1997=100)
Unemployment (%)[paragraph]           5.6         6.0         6.0
Monetary Aggregates, daily
  avg.[paragraph]
  M1, $-Billions                  1,336.8     1,276.2       1,254.6
  M2, $-Billions                  6,246.1     6,073.4       5,965.5
Member Bank Borrowed Reserves
  $-Billions                          0.086       0.107         0.029
Consumer Price Index
  All Urban Consumers               188.0       185.0         183.8

Market Rates and Bond Yields -- %

                                      Oct.        Apr.        Apr.
                                      2002        2002        2001

Reserve Bank Discount                 1.25        1.25        4.28
Prime Rate (monthly average)          4.75        4.75        7.80
Federal Funds Rate                    1.75        1.75        4.80
3-Month Treasury Bills                1.58        1.72        3.87
6-Month Treasury Bills                1.56        1.93        3.85
3-Month Certificates of Deposit       1.73        1.87        4.53
LIBOR-3 month rate                    1.73        1.88        4.55
U.S. 5-Year Bond                      2.95        4.65        4.76
U.S. 10-Year Bond                     3.94        5.21        5.14
U.S. 25+ Year Bond                    5.07        5.82        5.65
Municipal Tax Exempts
  (Aaa)[dagger]                       4.66        5.07        5.14
Municipal Tax Exempts
  (A)[dagger]                         4.85        5.29        5.37
Corporate Bonds (Aaa)                 6.32        6.76        7.20
Corporate Bonds (A)[dagger]           6.95        7.49        7.82
Corporate Bonds (Baa)                 7.73        8.03        8.07

Stock Dividend Yields -- %

Common Stocks -- 500                  1.86        1.42        1.32

(Source: Standard & Poor's)

Other Benchmarks

Industrial Production
  Index[paragraph]*                 139.3       139.2       144.9
(Federal Reserve 1997=100)
Unemployment (%)[paragraph]           5.7         6.0         4.5
Monetary Aggregates, daily
  avg.[paragraph]
  M1, $-Billions                  1,193.5     1,186.4     1,118.0
  M2, $-Billions                  5,720.0     5,557.5     5,145.1
Member Bank Borrowed Reserves
  $-Billions                          0.143       0.071       0.051
Consumer Price Index
  All Urban Consumers               181.3       179.8       176.9

                                 1st Qtr.    4th Qtr.    1st Qtr.
                                   2004        2003        2003

Per Capita Personal              29,042      28,575      27,720
  Disposable Income.
  [dagger][dagger]--
  Annual Rate in Current $s
Savings as % of D.P.I.
  [dagger][dagger]                    1.9         1.7         1.9

                                 4th Qtr.    1st Qtr.
                                   2002        2002

Per Capita Personal              27,425      26,932
  Disposable Income.
  [dagger][dagger]--
  Annual Rate in Current $s
Savings as % of D.P.I.
  [dagger][dagger]                    1.8         2.5

[paragraph] Seasonally adjusted
[dagger] Source: Moody's Bond Record
[dagger][dagger] Revised figures used when available
** Consolidated Metropolitan Statistical Area

Conventional Home Mortgage Terms

                                   Apr.        Oct.         Apr.
                                   2004        2003         2003

New House Loans -- U.S. Averages
Interest rate (%)                   5.49        5.92         5.92
Term (years)                       28.6        28.5         29.0
Loan ratio (%)                     75.5        75.8         78.8
Price (thou. $)                   292.9       273.7        266.0

Used House Loans -- U.S. Averages
Interest rate (%)                   5.42        5.83         5.72
Term (years)                       27.2        26.9         26.2
Loan ratio (%)                     73.3        73.3         72.9
Price (thou. $)                   255.5       236.0        240.3

(Source: Federal Housing Finance Board)

Conventional Home Mortgage Rates by Metropolitan Area (%)

                                       1st Q        1st Q        1st Q
                                       2004         2003         2002

Atlanta                                5.54         5.89         6.81
Boston-Lawrence-NH-ME-CT**             5.39         6.00         6.89
Chicago-Gary-IN-WI**                   5.26         5.72         6.79
Cleveland-Akron**                      5.67         5.93         6.95
Dallas-Fort Worth**                    6.07         5.98         7.00
Denver-Boulder-Greeley**               5.37         5.70         6.72
Detroit-Ann Arbor-Flint**              5.36         5.70         6.77
Houston-Galveston-Brazoria**           5.77         6.03         6.96
Indianapolis                           5.74         5.93         6.90
Kansas City, MO-KS                     5.72         5.90         6.79
Los Angeles-Riverside**                5.36         5.83         6.65
Miami-Fort Lauderdale**                5.51         5.83         6.87
Milwaukee-Racine**                     5.63         5.80         6.94
Minneapolis-St.Paul-WI                 5.36         5.79         6.78
New York-Long Island-N. NJ-CT**        5.56         5.86         6.83
Philadelphia-Wilmington-NJ**           5.74         5.93         6.88
Phoenix-Mesa                           5.64         5.88         6.97
Pittsburgh                             5.87         5.99         6.98
Portland-Salem**                       5.50         5.78         6.78
St. Louis-IL                           5.91         5.83         7.00
San Diego                              5.09         5.71         6.55
San Francisco-Oakland-San Jose**       5.24         5.70         6.35
Seattle-Tacoma-Bremerton**             5.32         5.69         6.70
Tampa-St. Petersburg-Clearwater        5.77         5.95         6.95
Washington, DC-Baltimore-VA**          5.73         6.09         6.98

As of the first quarter 2003, the Federal Housing Finance Board no
longer reported on the markets of Greensboro, Honolulu and Louisville

* On December 5, 2002, the Federal Reserve Board revised its index of
industrial production, now basing its calculations on the North American
Industry Classification System (NAICS) resulting in, among other things,
a 1997 baseline for the industrial production index, rather than the
previously used 1992 baseline. For the full press release, visit
www.federalreserve.gov/releases/g17/revisions/current/default_rev.htm.
COPYRIGHT 2004 The Appraisal Institute
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2004 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Valuation Insights & Perspectives
Date:Mar 22, 2004
Words:968
Previous Article:HUD to open RESPA reform discussion in 30 to 45 days.
Next Article:National market indicators.
Topics:


Related Articles
Japan's Oct. leading indicators slip below 50 pc.
Revised index confirms weakness of economic activity.
Coincident, leading economic indexes revised upward for Nov.
Outlook for Mexico still positive.
Taiwan's leading economic indicator rises 3rd time in April.
NHLEI rises for second month.
Economy witnesses positive change with beginning of current year.

Terms of use | Privacy policy | Copyright © 2021 Farlex, Inc. | Feedback | For webmasters