by Calculated Risk on 6/08/2024 08:11:00 AM The key report this week is May CPI. The FOMC meets on Tuesday and Wednesday, and rates are expected to be unchanged. —– Monday, June 10th —– No major economic releases scheduled. —– Tuesday, June 11th —– 6:00 AM ET: NFIB Small Business Optimism Index for April. —–…
by Calculated Risk on 6/07/2024 07:53:00 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 6/07/2024 04:45:00 PM From Manheim Consulting today: Wholesale Used-Vehicle Prices Declined in May Wholesale used-vehicle prices (on a mix, mileage, and seasonally adjusted basis) were down in May compared to April. The Manheim Used Vehicle Value Index (MUVVI) fell to 197.3, a decline of 12.1% from a year ago. The seasonal…
by Calculated Risk on 6/07/2024 01:15:00 PM Today, in the Real Estate Newsletter: The “Home ATM” Mostly Closed in Q1 Excerpt: During the housing bubble, many homeowners borrowed heavily against their perceived home equity – jokingly calling it the “Home ATM” – and this contributed to the subsequent housing bust, since so many homeowners had…
by Calculated Risk on 6/07/2024 12:36:00 PM The Federal Reserve released the Q1 2024 Flow of Funds report today: Financial Accounts of the United States. The net worth of households and nonprofits rose to $160.8 trillion during the first quarter of 2024. The value of directly and indirectly held corporate equities increased $3.8 trillion and…
by Calculated Risk on 6/06/2024 07:47:00 PM Note: Mortgage rates are from MortgageNewsDaily.com and are for top tier scenarios. Friday:• At 8:30 8:30 AM ET, Employment Report for May. The consensus is for 180,000 jobs added, and for the unemployment rate to be unchanged at 3.9%. 12:00 PM: Q1 Flow of Funds Accounts of…
by Calculated Risk on 6/06/2024 04:01:00 PM On Friday at 8:30 AM ET, the BLS will release the employment report for May. The consensus is for 180,000 jobs added, and for the unemployment rate to be unchanged at 3.9%. There were 175,000 jobs added in April, and the unemployment rate was at 3.9%. From Goldman…
by Calculated Risk on 6/06/2024 08:46:00 AM The Census Bureau and the Bureau of Economic Analysis reported: The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $74.6 billion in April, up $6.0 billion from $68.6 billion in March, revised. April exports were $263.7 billion,…
by Calculated Risk on 6/05/2024 07:01:00 PM Note: Mortgage rates are from MortgageNewsDaily.com and are for top tier scenarios. Thursday:• At 8:30 AM ET, Trade Balance report for April from the Census Bureau. The consensus is the trade deficit to be $69.7 billion. The U.S. trade deficit was at $69.4 Billion in March. • Also…
by Calculated Risk on 6/05/2024 01:01:00 PM Here is another monthly update on lumber prices. SPECIAL NOTE: The CME group discontinued the Random Length Lumber Futures contract on May 16, 2023. I’ve now switched to a new physically-delivered Lumber Futures contract that was started in August 2022. Unfortunately, this impacts long term price comparisons since…