MBS MID-DAY: MBS Continue Struggling To Hold Gains

– Spending +0.5 vs +0.5 consensus
– Income +0.1 vs +0.2 consensus
– “Real” Consumer Spending +0.1 vs +0.4 in July
– Savings Rate falls from 4.1 to 3.7

Personal income increased $15.0 billion, or 0.1 percent, and disposable personal income (DPI)
increased $12.5 billion, or 0.1 percent, in August, according to the Bureau of Economic Analysis.
Personal consumption expenditures (PCE) increased $57.2 billion, or 0.5 percent. In July,
personal income increased $18.5 billion, or 0.1 percent, DPI increased $15.4 billion, or 0.1 percent,
and PCE increased $45.4 billion, or 0.4 percent, based on revised estimates.

Real disposable income decreased 0.3 percent in August, in contrast to an increase of 0.1 percent
in July. Real PCE increased 0.1 percent, compared with an increase of 0.4 percent.

Personal outlays — PCE, personal interest payments, and personal current transfer payments — increased $60.0
billion in August, compared with an increase of $48.2 billion in July. PCE increased $57.2 billion, compared
with an increase of $45.4 billion.

Article source: http://www.mortgagenewsdaily.com/mortgage_rates/blog/276844.aspx

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