by Calculated Risk on 9/13/2024 08:17:00 AM From BofA: Since our last weekly publication, our 3Q GDP tracking estimate remains unchanged at 2.3% q/q saar while our 2Q GDP tracking estimate went down two-tenths to 2.8% q/q saar. [Sept 13th estimate]emphasis added From Goldman: We lowered our Q3 GDP forecast to 2.5% (qoq ar) [Sept…
Note: Mortgage rates are from MortgageNewsDaily.com and are for top tier scenarios. Friday: • At 10:00 AM: University of Michigan’s Consumer sentiment index (Preliminary for September). Source link
by Calculated Risk on 9/12/2024 04:30:00 PM What this means: On a weekly basis, Realtor.com reports the year-over-year change in active inventory and new listings. On a monthly basis, they report total inventory. For August, Realtor.com reported inventory was up 5.8% YoY, but still down 26.4% compared to the 2017 to 2019 same month levels. …
by Calculated Risk on 9/12/2024 12:58:00 PM Today, in the Real Estate Newsletter: The “Home ATM” Mostly Closed in Q2 Excerpt: During the housing bubble, many homeowners borrowed heavily against their perceived home equity – jokingly calling it the “Home ATM” – and this contributed to the subsequent housing bust, since so many homeowners had…
by Calculated Risk on 9/12/2024 12:29:00 PM The Federal Reserve released the Q2 2024 Flow of Funds report today: Financial Accounts of the United States. The net worth of households and nonprofits rose to $163.8 trillion during the second quarter of 2024. The value of directly and indirectly held corporate equities increased $0.7 trillion and…
by Calculated Risk on 9/12/2024 09:51:00 AM From CoreLogic: CoreLogic: US Homeowners See Equity Gains Continue to Climb, but at a Slower Pace in Q2 CoreLogic® … today released the Homeowner Equity Report (HER) for the second quarter of 2024. The report shows that U.S. homeowners with mortgages (which account for roughly 62% of all properties) saw…
by Calculated Risk on 9/11/2024 07:09:00 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 225 thousand initial claims, down from 227 thousand last week. • At 8:30 AM, The Producer Price Index…
by Calculated Risk on 9/11/2024 04:02:00 PM The BLS reported this morning: The Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) increased 2.4 percent over the last 12 months to an index level of 308.640 (1982-84=100). For the month, the index was unchanged prior to seasonal adjustment. CPI-W is the index that…
by Calculated Risk on 9/11/2024 09:44:00 AM Today, in the Real Estate Newsletter: Asking Rents Mostly Unchanged Year-over-year Brief excerpt: Tracking rents is important for understanding the dynamics of the housing market. For example, the sharp increase in rents helped me deduce that there was a surge in household formation in 2021 (See from September…
by Calculated Risk on 9/10/2024 07:16:00 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. • At 8:30 AM, The Consumer Price Index for August from the BLS. The consensus is…