Week 24-2024 | Rating

Week 24-2024 | Chart

Week 24-2024 | News

10-Year Treasury Yield

Treasury yields hold steady ahead of Fed decision, key inflation data. U.S. Treasury yields were little changed on Wednesday as investors awaited the latest Federal Reserve interest rate decision and policy guidance, and looked to key inflation data. At 5:52 a.m. ET, the yield on the 10-year Treasury was flat at 4.402%. The 2-year Treasury yield was last at 4.838% after rising less than 1 basis point.

Shiller Sales

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ADP Employment Report

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JOLTS

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MBA Purchase Applications

A brief drop in mortgage rates caused a huge surge in demand, but it may be short-lived. Total mortgage application volume surged nearly 16% compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550 or less) decreased to 7.02% last week from 7.07%. Applications to refinance a home loan jumped 28% last week, compared with the previous week. Applications to refinance a home loan, which are most sensitive to daily moves in interest rates, jumped 28% last week compared with the previous week and was also 28% higher than the same week one year ago.

FOMC Meeting

Federal Reserve Chair Jerome Powell said it is unclear why the sentiment of everyday Americans is so sour on the economy. No one on the Fed committee has rate hikes in their base case, Powell says. Federal Reserve Chair Jerome Powell said no one on the committee has interest rate hikes in their base case. Federal Reserve Chair Jerome Powell said the central bank does not yet have the confidence to start lowering interest rates, even after May’s consumer price index on Wednesday came in cooler than expected. The Federal Reserve kept a steady hand on interest rates, but it is calling for just one rate cut in 2024. The S&P 500 and Nasdaq Composite held on to their gains as of 2:19 p.m. ET, with the broad market benchmark up 1% and the tech-heavy index up nearly 1.8%.

Payroll Non Farm -

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Chicago PMI

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Pending Home Sales

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Jobless Claims

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Mortgage Rates

For the week, the average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550 or less) decreased to 7.02% from 7.07%, with points unchanged at 0.65 (including the origination fee) for loans with a 20% down payment. For the bulk of the week, rates were lower than that, but Friday’s news caused rates to jump 12 basis points, according to a separate survey from Mortgage News Daily.

International Trade Goods

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Wholesale Inv Adv

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Personal Income

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Consumer Spending

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