by Calculated Risk on 8/15/2024 12:57:00 PM Today, in the Calculated Risk Real Estate Newsletter: MBA: Mortgage Delinquencies Increased in Q2 2024 A brief excerpt: From the MBA: Mortgage Delinquencies Increase in the Second Quarter of 2024 The delinquency rate for mortgage loans on one-to-four-unit residential properties increased to a seasonally adjusted rate of 3.97…
by Calculated Risk on 8/15/2024 10:00:00 AM The National Association of Home Builders (NAHB) reported the housing market index (HMI) was at 39, down from 41 last month. Any number below 50 indicates that more builders view sales conditions as poor than good. From the NAHB: Builder Confidence Moves Lower as Market Waits for Rate…
by Calculated Risk on 8/15/2024 09:15:00 AM From the Fed: Industrial Production and Capacity Utilization Industrial production fell 0.6 percent in July after increasing 0.3 percent in June. Early July shutdowns concentrated in the petrochemical and related industries due to Hurricane Beryl held down the growth of industrial production by an estimated 0.3 percentage point….
by Calculated Risk on 8/15/2024 08:40:00 AM On a monthly basis, retail sales increased 1.0% from June to July (seasonally adjusted), and sales were up 2.7 percent from July 2023. From the Census Bureau report: Advance estimates of U.S. retail and food services sales for July 2024, adjusted for seasonal variation and holiday and trading-day…
by Calculated Risk on 8/15/2024 08:30:00 AM The DOL reported: In the week ending August 10, the advance figure for seasonally adjusted initial claims was 227,000, a decrease of 7,000 from the previous week’s revised level. The previous week’s level was revised up by 1,000 from 233,000 to 234,000. The 4-week moving average was 236,500,…
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…