by Calculated Risk on 12/09/2024 08:51:00 PM From Matthew Graham at Mortgage News Daily: Mortgage Rates Slightly Higher to Start New Week Mortgage rates ended last week with an impressive drop to the lowest levels in more than a month and a half. Today’s rates ended up being the 2nd lowest over that time after…
by Calculated Risk on 12/09/2024 02:15:00 PM From Dodge Data Analytics: Dodge Momentum Index Slides 2% in November The Dodge Momentum Index (DMI), issued by Dodge Construction Network, decreased 2.3% in November to 191.5 (2000=100) from the revised October reading of 196.0. Over the month, commercial planning fell 4.6% while institutional planning improved 2.5%. “Throughout…
In two weeks, the currency market will de facto go on a Christmas/New Year vacation, which will not end until early January. But before leaving, traders will “slam the door loudly,” reacting to the key events of December. The upcoming week is packed with significant events for the EUR/USD pair. Key November inflation data will…
by Calculated Risk on 12/09/2024 08:11:00 AM Altos reports that active single-family inventory was down 2.3% week-over-week. Inventory is now 6.7% below the peak for the year (7 weeks ago). Inventory will now decline seasonally until early next year. The first graph shows the seasonal pattern for active single-family inventory since 2015. Click on graph…
by Calculated Risk on 12/08/2024 06:21:00 PM Weekend:• Schedule for Week of December 8, 2024 Monday:• No major economic releases scheduled. From CNBC: Pre-Market Data and Bloomberg futures S&P 500 and DOW futures are mostly unchanged (fair value). Oil prices were down over the last week with WTI futures at $67.14 per barrel and Brent…
by Calculated Risk on 12/08/2024 08:21:00 AM From CoreLogic: CoreLogic: US Homeowners See Equity Gains Drop by More Than 5 Percent in Q3 CoreLogic® … today released the Homeowner Equity Report (HER) for the third quarter of 2024. The report shows that U.S. homeowners with mortgages (which account for roughly 62% of all properties) saw home equity…
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by Calculated Risk on 12/07/2024 08:11:00 AM The key economic report this week is November CPI. —– Monday, December 9th —– No major economic releases scheduled. —– Tuesday, December 10th —– 6:00 AM: NFIB Small Business Optimism Index for November. —– Wednesday, December 11th —– 7:00 AM ET: The Mortgage Bankers Association (MBA) will release…
by Calculated Risk on 12/06/2024 07:01:00 PM Note: Mortgage rates are from MortgageNewsDaily.com and are for top tier scenarios. For deaths, I’m currently using 4 weeks ago for “now”, since the most recent three weeks will be revised significantly. Note: “Effective May 1, 2024, hospitals are no longer required to report COVID-19 hospital admissions, hospital…
by Calculated Risk on 12/06/2024 02:35:00 PM From BofA: Since our last weekly publication, our 3Q GDP tracking estimate has moved up a tenth to 2.9% q/q saar from the second official print of 2.8% q/q saar. Additionally, we initiated our 4Q US GDP tracker on Nov 15th with the October retail sales print. Since…