by Calculated Risk on 9/19/2024 10:00:00 AM From the NAR: Existing-Home Sales Declined 2.5% in August In August 2024, existing-home sales fell in the South, West, and Northeast, while the Midwest registered no change. Year-over-year, sales slipped in three regions but remained stable in the Northeast.emphasis added Click on graph for larger image. This graph…
by Calculated Risk on 9/19/2024 08:30:00 AM The DOL reported: In the week ending September 14, the advance figure for seasonally adjusted initial claims was 219,000, a decrease of 12,000 from the previous week’s revised level. The previous week’s level was revised up by 1,000 from 230,000 to 231,000. The 4-week moving average was 227,500,…
by Calculated Risk on 9/18/2024 07:29:00 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 235 thousand initial claims, up from 230 thousand last week. • Also at 8:30 AM, the Philly Fed…
by Calculated Risk on 9/18/2024 02:12:00 PM Statement here. Fed Chair Powell press conference video here or on YouTube here, starting at 2:30 PM ET. Here are the projections. Since the last projections were released, economic growth has been above expectations, the unemployment rate is slightly above expectations, and inflation lower than expected (although there…
by Calculated Risk on 9/18/2024 02:00:00 PM Fed Chair Powell press conference video here or on YouTube here, starting at 2:30 PM ET. FOMC Statement: Recent indicators suggest that economic activity has continued to expand at a solid pace. Job gains have slowed, and the unemployment rate has moved up but remains low. Inflation has…
by Calculated Risk on 9/18/2024 07:00:00 AM From the MBA: Mortgage Applications Increase in Latest MBA Weekly Survey Mortgage applications increased 14.2 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending September 13, 2024. Last week’s results included an adjustment for the Labor…
by Calculated Risk on 9/17/2024 07:19:00 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, Housing Starts for August. The consensus is for 1.250 million SAAR, up…
by Calculated Risk on 9/17/2024 01:00:00 PM Today, in the Calculated Risk Real Estate Newsletter: Lawler: Early Read on Existing Home Sales in August A brief excerpt: From housing economist Tom Lawler: Based on publicly-available local realtor/MLS reports released across the country through today, I project that existing home sales as estimated by the National…
by Calculated Risk on 9/16/2024 07:01:00 PM From Matthew Graham at Mortgage News Daily: Mortgage Rates Inch Lower to Begin Potentially Wild Week The new week began on a relatively quiet note in terms of mortgage rate movement and the underlying bond market. … Traders have quickly shifted back to expecting slightly better odds of…
by Calculated Risk on 9/16/2024 02:46:00 PM Today, in the Calculated Risk Real Estate Newsletter: Part 2: Current State of the Housing Market; Overview for mid-September 2024 A brief excerpt: On Friday, in Part 1: Current State of the Housing Market; Overview for mid-September 2024 I reviewed home inventory, housing starts and sales. In Part…