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…
by Calculated Risk on 9/15/2024 06:52:00 PM Weekend:• Schedule for Week of September 15, 2024 • FOMC Preview: Fed to Cut Rates Monday:• 8:30 AM ET: The New York Fed Empire State manufacturing survey for September. The consensus is for a reading of -4.0, up from -4.7. From CNBC: Pre-Market Data and Bloomberg futures S&P…
by Calculated Risk on 9/15/2024 10:17:00 AM Most analysts expect the FOMC will cut the federal funds rate at the meeting this week by 25bp lowering the target range to 5 to 5-1/4 percent. It is possible the FOMC will cut by 50bp. Currently market participants are split evenly between a 25bp and a 50bp…
At the Calculated Risk Real Estate Newsletter this week: Click on graph for larger image. • Part 1: Current State of the Housing Market; Overview for mid-September 2024 • The “Home ATM” Mostly Closed in Q2 • 2nd Look at Local Housing Markets in August • Asking Rents Mostly Unchanged Year-over-year • ICE Mortgage Monitor:…
by Calculated Risk on 9/14/2024 08:11:00 AM The key reports this week are August Retail Sales, Housing Starts and Existing Home sales. For manufacturing, August Industrial Production, and the September New York and Philly Fed surveys will be released this week. The FOMC meets this week and is expected to cut rates. —– Monday, September…