by Calculated Risk on 9/11/2024 04:02:00 PM The BLS reported this morning: The Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) increased 2.4 percent over the last 12 months to an index level of 308.640 (1982-84=100). For the month, the index was unchanged prior to seasonal adjustment. CPI-W is the index that…
by Calculated Risk on 9/11/2024 09:44:00 AM Today, in the Real Estate Newsletter: Asking Rents Mostly Unchanged Year-over-year Brief excerpt: Tracking rents is important for understanding the dynamics of the housing market. For example, the sharp increase in rents helped me deduce that there was a surge in household formation in 2021 (See from September…
by Calculated Risk on 9/10/2024 07:16:00 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 August from the BLS. The consensus is…
by Calculated Risk on 9/10/2024 01:52:00 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 switched to a physically-delivered Lumber Futures contract that was started in August 2022. Unfortunately, this impacts long term price comparisons since the new…
by Calculated Risk on 9/09/2024 07:13:00 PM From Matthew Graham at Mortgage News Daily: Mortgage Rates Holding Near Long-Term Lows to Start New Week The average lender’s top tier 30yr fixed rate fell to the lowest level since April 2023 last week. That’s down more than 1.25% over the past 5 months. … Today brought…
by Calculated Risk on 9/09/2024 11:30:00 AM Today, in the Calculated Risk Real Estate Newsletter: 1st Look at Local Housing Markets in August A brief excerpt: NOTE: The tables for active listings, new listings and closed sales all include a comparison to August 2019 for each local market (some 2019 data is not available). This…
by Calculated Risk on 9/09/2024 09:08:00 AM From Manheim Consulting today: Wholesale Used-Vehicle Prices Increased in August Wholesale used-vehicle prices (on a mix, mileage, and seasonally adjusted basis) were higher in August compared to July. The Manheim Used Vehicle Value Index (MUVVI) rose to 203.9, a decline of 3.9% from a year ago. The seasonal…
by Calculated Risk on 9/08/2024 07:33:00 PM Weekend:• Schedule for Week of September 8, 2024 • House Price Weekend: Case-Shiller: National House Price Index Up 5.4% year-over-year in June • Inflation Adjusted House Prices 1.6% Below 2022 Peak • Freddie Mac House Price Index Increased Slightly in July; Up 4.4% Year-over-year Monday:• No major economic…
by Calculated Risk on 9/08/2024 12:15:00 PM Today, in the Calculated Risk Real Estate Newsletter: Freddie Mac House Price Index Increased Slightly in July; Up 4.4% Year-over-year A brief excerpt: Freddie Mac reported that its “National” Home Price Index (FMHPI) increased 0.05% month-over-month on a seasonally adjusted (SA) basis in June. On a year-over-year basis,…
by Calculated Risk on 9/08/2024 10:52:00 AM Today, in the Calculated Risk Real Estate Newsletter: Inflation Adjusted House Prices 1.9% Below 2022 Peak Excerpt: It has been over 18 years since the bubble peak. In the June Case-Shiller house price index released last week, the seasonally adjusted National Index (SA), was reported as being 73%…