by Calculated Risk on 11/21/2024 10:51:00 AM Today, in the CalculatedRisk Real Estate Newsletter: NAR: Existing-Home Sales Increased to 3.96 million SAAR in October Excerpt: As expected, existing home sales were up year-over-year for the first time since 2021. This was a combination of weak sales in October last year and lower mortgage rates in…
by Calculated Risk on 11/20/2024 08:18:00 PM Note: Mortgage rates are from MortgageNewsDaily.com and are for top tier scenarios. Thursday:• At 8:30 AM ET, The initial weekly unemployment claims report will be released. The consensus is for 222 thousand initial claims, up from 217 thousand last week. • Also at 8:30 AM, the Philly Fed…
by Calculated Risk on 11/20/2024 02:33:00 PM Container traffic gives us an idea about the volume of goods being exported and imported – and usually some hints about the trade report since LA area ports handle about 40% of the nation’s container port traffic. The following graphs are for inbound and outbound traffic at the…
by Calculated Risk on 11/20/2024 12:35:00 PM Note: This index is a leading indicator primarily for new Commercial Real Estate (CRE) investment. From the AIA: ABI October 2024: Business conditions at architecture firms begin to moderate The AIA/Deltek Architecture Billings Index (ABI) score for the month was 50.3, meaning that the share of firms that…
by Calculated Risk on 11/19/2024 08:57:00 PM Note: Mortgage rates are from MortgageNewsDaily.com and are for top tier scenarios. Wednesday:• At 7:00 AM ET, The Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index. • During the day: The AIA’s Architecture Billings Index for October (a leading indicator for commercial…
by Calculated Risk on 11/19/2024 03:53:00 PM From housing economist Tom Lawler: According to CME FedWatch, the “market-based” probability that the FOMC will cut its federal funds rate target by 25 bp at its December meeting is about 59%. Folks will also play close attention to the release of the FOMC’s Summary of Economic Projections…
by Calculated Risk on 11/19/2024 11:58:00 AM I’ll have more on port traffic once Los Angeles releases their data for October. From the Port of Long Beach: Port of Long Beach Reaches All-Time Record in October The Port of Long Beach moved nearly 1 million cargo containers in October, achieving its strongest month in its…
by Calculated Risk on 11/18/2024 06:53:00 PM From Matthew Graham at Mortgage News Daily: Mortgage Rates Didn’t Move Much Over The Weekend The average top tier conventional 30yr fixed rate was just a hair over 7% on Friday afternoon and the same is true at the start of the new week. …As for the risk…
by Calculated Risk on 11/18/2024 05:20:00 PM From the MBA: Share of Mortgage Loans in Forbearance Increases to 0.47% in October The Mortgage Bankers Association’s (MBA) monthly Loan Monitoring Survey revealed that the total number of loans now in forbearance increased to 0.47% as of October 31, 2024. According to MBA’s estimate, 235,000 homeowners are…
by Calculated Risk on 11/18/2024 12:47:00 PM Today, in the Calculated Risk Real Estate Newsletter: 3rd Look at Local Housing Markets in October A brief excerpt: NOTE: The tables for active listings, new listings and closed sales all include a comparison to October 2019 for each local market (some 2019 data is not available). This…