by Calculated Risk on 1/15/2025 02:38:00 PM Fed’s Beige Book Economic activity increased slightly to moderately across the twelve Federal Reserve Districts in late November and December. Consumer spending moved up moderately, with most Districts reporting strong holiday sales that exceeded expectations. Vehicle sales grew modestly. Construction activity decreased overall, with several Districts indicating that…
by Calculated Risk on 1/15/2025 07:00:00 AM From the MBA: Mortgage Applications Increase in Latest MBA Weekly Survey Mortgage applications increased 33.3 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending January 10, 2025. Last week’s results included an adjustment for the…
by Calculated Risk on 1/14/2025 07:49:00 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 December from the BLS. The consensus is…
by Calculated Risk on 1/14/2025 01:31:00 PM There were four bank failures in 2024. The median number of failures since the FDIC was established in 1933 was 7 – so 2 failures in 2024 was below the median. There were five bank failures in 2023, however 3 of the failures were larger banks: First Republic…
by Calculated Risk on 1/13/2025 08:17:00 PM From Matthew Graham at Mortgage News Daily: Mortgage Rates Slightly Higher to Start New Week The more important consideration is the new round of potential volatility on the horizon. Whereas it was the jobs report last week, this week’s critical data will be Wednesday’s Consumer Price Index (CPI)….
by Calculated Risk on 1/13/2025 02:16:00 PM From the Las Vegas Visitor Authority: November 2024 Las Vegas Visitor Statistics Punctuated by the second annual F1 Las Vegas Grand Prix and the SEMA tradeshow, Las Vegas hosted more than 3.3M visitors in November, slightly up over last year (+0.6% YoY). With a net decrease in churn…
by Calculated Risk on 1/13/2025 08:11:00 AM Altos reports that active single-family inventory was down 1.7% week-over-week. Inventory will continue to decline seasonally and probably bottom in late January or February. The first graph shows the seasonal pattern for active single-family inventory since 2015. Click on graph for larger image. The red line is for…
by Calculated Risk on 1/12/2025 06:45:00 PM Weekend:• Schedule for Week of January 12, 2025 Monday:• No major economic releases scheduled. From CNBC: Pre-Market Data and Bloomberg futures S&P 500 are unchanged and DOW futures are up 68 (fair value). Oil prices were up over the last week with WTI futures at $76.57 per barrel…
by Calculated Risk on 1/12/2025 10:17:00 AM 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…
At the Calculated Risk Real Estate Newsletter this week: Click on graph for larger image. • Moody’s: Apartment Vacancy Rate Increased in Q4; Office Vacancy Rate at Record High • 1st Look at Local Housing Markets in December • Asking Rents Mostly Unchanged Year-over-year • Update: The Housing Bubble and Mortgage Debt as a Percent…