by Calculated Risk on 8/14/2024 07:22:00 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 238 thousand initial claims, up from 233 thousand last week. • Also at 8:30 AM, Retail sales for…
by Calculated Risk on 8/14/2024 02:58:00 PM The Cleveland Fed released the median CPI and the trimmed-mean CPI. According to the Federal Reserve Bank of Cleveland, the median Consumer Price Index rose 0.3% in July. The 16% trimmed-mean Consumer Price Index increased 0.2%. “The median CPI and 16% trimmed-mean CPI are measures of core inflation…
by Calculated Risk on 8/14/2024 01:37:00 PM The BLS reported this morning: The Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) increased 2.9 percent over the last 12 months to an index level of 308.501 (1982-84=100). For the month, the index increased 0.1 percent prior to seasonal adjustment. CPI-W is the index…
by Calculated Risk on 8/14/2024 10:21:00 AM Today, in the Calculated Risk Real Estate Newsletter: Part 2: Current State of the Housing Market; Overview for mid-August 2024 A brief excerpt: Yesterday, in Part 1: Current State of the Housing Market; Overview for mid-August 2024 I reviewed home inventory, housing starts and sales. In Part 2,…
by Calculated Risk on 8/14/2024 08:49:00 AM Here are a few measures of inflation: The first graph is the one Fed Chair Powell had mentioned when services less rent of shelter was up around 8% year-over-year. This declined and is now up 4.6% YoY. Click on graph for larger image. This graph shows the YoY…
by Calculated Risk on 8/14/2024 07:00:00 AM From the MBA: Mortgage Applications Increase in Latest MBA Weekly Survey Mortgage applications increased 16.8 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending August 9, 2024. The Market Composite Index, a measure of mortgage loan…
by Calculated Risk on 8/13/2024 07:14:00 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 July from the BLS. The consensus is…
by Calculated Risk on 8/13/2024 12:01:00 PM Fannie reported results for Q2 2024. Here is some information on single-family Real Estate Owned (REOs). Fannie Mae reported the number of REOs decreased to 7,179 at the end of Q2 2024, down 10% from 7,971 at the end of the previous quarter, and down 17% year-over-year from…
by Calculated Risk on 8/12/2024 07:10:00 PM From Matthew Graham at Mortgage News Daily: Mortgage Rates Effectively Unchanged to Begin New Week Today was completely different than the previous Monday in that it was a normal, boring day with essentially no change in mortgage rates over the weekend.…This could change in the coming days as…
by Calculated Risk on 8/12/2024 11:12:00 AM Today, in the Calculated Risk Real Estate Newsletter: 2nd Look at Local Housing Markets in July A brief excerpt: NOTE: The tables for active listings, new listings and closed sales all include a comparison to July 2019 for each local market (some 2019 data is not available). This…