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Schedule for Week of July 1, 2018

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Schedule for Week of July 1, 2018

The key report this week is the June employment report on Friday. Other key indicators include the June ISM manufacturing and non-manufacturing indexes, June auto sales, and the May trade deficit. —– Monday, July 2nd —–10:00 AM: ISM Manufacturing Index for June. The consensus is for the ISM to be at 58.3, down from...
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Friday: Personal Income and Outlays, Chicago PMI

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Friday: Personal Income and Outlays, Chicago PMI

Friday:• At 8:30 AM ET, Personal Income and Outlays for May. The consensus is for a 0.4% increase in personal income, and for a 0.4% increase in personal spending. And for the Core PCE price index to increase 0.2%. • At 9:45 AM, Chicago Purchasing Managers Index for June. The consensus is for a...
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Freddie Mac: Mortgage Serious Delinquency Rate Decreased in May

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Freddie Mac: Mortgage Serious Delinquency Rate Decreased in May

Freddie Mac reported that the Single-Family serious delinquency rate in May was 0.87%, down from 0.94% in April. Freddie’s rate is unchanged from 0.87% in May 2017. Freddie’s serious delinquency rate peaked in February 2010 at 4.20%. These are mortgage loans that are “three monthly payments or more past due or in foreclosure”.  Click...
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Update: For Fun, Stock Market as Barometer of Policy Success

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Update: For Fun, Stock Market as Barometer of Policy Success

By request, here is an update to the chart showing market performance under Presidents Trump and Obama. Note: I don’t think the stock market is a great measure of policy performance, but some people do – and I’m having a little fun with them. There are some observers who think the stock market is...
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A Few Comments on May Existing Home Sales

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A Few Comments on May Existing Home Sales

Earlier: NAR: “Existing-Home Sales Backpedal, Decrease 0.4 Percent in May” A few key points: 1) As usual, housing economist Tom Lawler’s forecast was closer to the NAR report than the consensus. See: Lawler: Early Read on Existing Home Sales in April.   The consensus was for sales of 5.56 million SAAR, Lawler estimated the...
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NAHB: Builder Confidence Decreases to 68 in June

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NAHB: Builder Confidence Decreases to 68 in June

The National Association of Home Builders (NAHB) reported the housing market index (HMI) was at 68 in June, down from 70 in May. Any number above 50 indicates that more builders view sales conditions as good than poor. From NAHB: Builder Confidence Slips Two Points as Lumber Prices Soar Builder confidence in the market for...
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NAHB: Builder Confidence Decreases to 68 in June

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NAHB: Builder Confidence Decreases to 68 in June

The National Association of Home Builders (NAHB) reported the housing market index (HMI) was at 68 in June, down from 70 in May. Any number above 50 indicates that more builders view sales conditions as good than poor. From NAHB: Builder Confidence Slips Two Points as Lumber Prices Soar Builder confidence in the market for...
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Schedule for Week of June 17, 2018

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Schedule for Week of June 17, 2018

The key economic reports this week are May Housing Starts and Existing home sales. For manufacturing, the Philly Fed manufacturing survey will be released this week. —– Monday, June 18th —–10:00 AM: The June NAHB homebuilder survey. The consensus is for a reading of  70, unchanged from 70 in May. Any number above 50...
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Tuesday: CPI

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Tuesday: CPI

From Matthew Graham at Mortgage News Daily: Mortgage Rates Near Recent Highs Mortgage rates edged up to the highest levels in several weeks today. Only a handful of days from mid-May stand between current levels and the highest rates in 7 years. That sounds a bit more dramatic than it is. Rates have been...
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Schedule for Week of June 10, 2018

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Schedule for Week of June 10, 2018

The key economic reports this week are the May Consumer Price Index (CPI) and Retail Sales. For manufacturing, May industrial production, and the June New York survey, will be released this week. The FOMC meets this week and is expected to raise the Fed Funds rate 25bps. —– Monday, June 11th —–No major economic...
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