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…
by Calculated Risk on 11/17/2024 06:57:00 PM Weekend:• Schedule for Week of November 17, 2024 Monday:• At 10:00 AM ET, The November NAHB homebuilder survey. The consensus is for a reading of 42, down from 44. Any number below 50 indicates that more builders view sales conditions as poor than good. From CNBC: Pre-Market Data…
Yesterday, the euro and pound quickly lost ground against the US dollar after Federal Reserve Chair Jerome Powell confirmed traders’ concerns by stating that recent data provides the central bank with room to lower interest rates cautiously. “The economy is not signaling any need for us to rush into rate cuts,” Powell said on Thursday…
by Calculated Risk on 11/17/2024 08:57:00 AM As projected for election week, the U.S. hotel industry reported negative year-over-year performance comparisons, according to CoStar’s latest data through 9 November. … 3-9 November 2024 (percentage change from comparable week in 2023): • Occupancy: 62.6% (-3.5%)• Average daily rate (ADR): US$156.11 (-0.1%)• Revenue per available room (RevPAR):…
At the Calculated Risk Real Estate Newsletter this week: Click on graph for larger image. • Part 1: Current State of the Housing Market; Overview for mid-November 2024 • Part 2: Current State of the Housing Market; Overview for mid-November 2024 • NY Fed: Mortgage Originations by Credit Score, Delinquencies Increase, Foreclosures Remain Low •…