by Calculated Risk on 6/12/2024 08:50:00 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, but has turned up recently, and is now up 5.0% YoY. Click on graph for larger image….
by Calculated Risk on 6/12/2024 08:30:00 AM From the BLS: The Consumer Price Index for All Urban Consumers (CPI-U) was unchanged in May on a seasonally adjusted basis, after rising 0.3 percent in April, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 3.3 percent before…
by Calculated Risk on 6/11/2024 07:11:00 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 May from the BLS. The consensus is…
by Calculated Risk on 6/11/2024 02:15:00 PM The key economic report this week is May CPI to be released tomorrow. The consensus is for 0.2% increase in CPI (up 3.4% YoY unchanged from April), and a 0.3% increase in core CPI (up 3.5% YoY, down from 3.6% YoY in April). From BofA: After averaging 0.4%…
by Calculated Risk on 6/11/2024 08:11:00 AM Due to Memorial Day, the U.S. hotel industry reported lower performance results from the previous week but slightly positive comparisons year over year, according to CoStar’s latest data through 1 June. … 26 May through 1 June 2024 (percentage change from comparable week in 2023): • Occupancy: 62.0%…
by Calculated Risk on 6/10/2024 06:26:00 PM From Matthew Graham at Mortgage News Daily: Mortgage Rates Slightly Higher to Start Pivotal Week The event calendar ramps up quickly from here and Wednesday will be the most important day of the month due to the release of pivotal inflation data and an updated rate announcement and…
by Calculated Risk on 6/10/2024 11:12:00 AM From the Association of American Railroads (AAR) Rail Time Indicators. Graphs and excerpts reprinted with permission. Total U.S. carloads were down 6.0% in May 2024 from May 2023, their fifth straight year-over-year decline. Year-to-date total carloads through May were down 5.0%, or 247,984 carloads, from last year and…
by Calculated Risk on 6/09/2024 06:18:00 PM Weekend:• Schedule for Week of June 9, 2024 Monday:• No major economic releases scheduled. From CNBC: Pre-Market Data and Bloomberg futures S&P 500 and DOW futures are little changed (fair value). Oil prices were down over the last week with WTI futures at $75.37 per barrel and Brent…
by Calculated Risk on 6/09/2024 09:40:00 AM Most analysts expect there will be no change to the federal funds rate at the meeting this week keeping the target range at 5‑1/4 to 5-1/2 percent. Currently market participants expect the next Fed move to be a 25 bp cut announced at the November FOMC meeting. The…
At the Calculated Risk Real Estate Newsletter this week: Click on graph for larger image. • The “Home ATM” Mostly Closed in Q1 • 1st Look at Local Housing Markets in May • Asking Rents Mostly Unchanged Year-over-year • Freddie Mac House Price Index Increased in April; Up 6.5% Year-over-year • ICE Mortgage Monitor: “Home…