ECONOMIC UPDATES

The Standard & Poor's/Case-Shiller 20-city housing price index — on a non-seasonally adjusted basis — fell 0.7% in September after a 0.2% decrease in August. On a year-over-year basis, prices rose 0.6% compared with September 2009.

The consumer confidence index rose to 54.1 in November from a revised 49.9 in October. It was the highest level in five months. The index was benchmarked at 100 in 1985, a year chosen because it was neither a peak nor a trough in consumer confidence.

The Institute for Supply Management reported that the monthly composite index of manufacturing activity fell slightly to 56.6 in November after reaching 56.9 in October. A reading above 50 signals expansion. It was the 16th straight month of expansion.

Total construction spending rose 0.7% to $802.3 billion in October, following a revised 0.7% increase in September. Economists had anticipated a drop of 0.4% in October.

The National Association of Realtors reported that its pending home sales index, a forward-looking indicator based on signed contracts, rose 10.4% in October after a 1.8% decrease in September.

The Institute for Supply Management reported that the monthly composite index of non-manufacturing activity rose to 55 in November from 54.3 in October. A reading above 50 signals expansion. It was the 11th straight month of expansion.

Upcoming on the economic calendar are reports on wholesale trade on December 9 and consumer sentiment on December 10.

Provided by:

Judy Haller

Prospect Mortgage

3985 Prince William Co. Pkwy., Suite 104

Woodbridge, VA 22192

Office: (703) 590-7132