What’s on the schedule for the week of 10/24 – 10/28?

Federal Reserve | mortgage rate news

What’s on this week’s financial calendar?

After last weeks’ focus on housing data and inflation metrics, this week will bring a host of additional data. Key dates that home buyers and sellers should be aware of are as follows:

Monday, October 24th

Chicago Fed national activity index
S&P U.S. manufacturing PMI
S&P U.S. services PMI

Tuesday, October 25th

S&P Case-Schiller U.S. home price index (SAAR)
FHFA U.S. home price index (SAAR)
Consumer confidence index

Wednesday, October 26th

New home sales (SAAR)

Thursday, October 27th

Real gross domestic product, first estimate (SAAR)
Initial & continuing jobless claims
Durable goods orders
Core capital equipment orders

Friday, October 28th

Employment cost index (SAAR)
PCE price index & PCE
Real disposable income & real consumer spending
UMich consumer sentiment index
Pending home sales index

Fed officials expect to debate peak rates & how to time slowing of hikes

While the Federal Reserve hasn’t offered any indication of slowing rate hikes any time soon, officials have indicated that they expect to discuss what peak rates look like and when to start slowing rate hikes. The fact that the Fed is looking to discuss what the peak looks like and when to slow down indicates that they’re about to move into a slower phase of the rate hikes.

How do housing agents navigate higher mortgage rates? 

Higher mortgage rates can be a challenge for lenders, home buyers, and home sellers, but they also impact business for housing agents. NBC News spoke with several agents to better understand how they manage in the current environment. The takeaway is that they’ve had to get more creative to find new clients, connect home buyers to the available listings, and during negotiation. One buyer offered passes to visit craft beer breweries and another provided free pilates lessons in exchange for a discount.

They’ve also noticed that adjustable-rate mortgages have made a bit of a comeback in the current market and have become a popular option for home buyers looking to get into a house in the current environment.

in 10 minutes?

The pre-approval process is lightning fast, and can be completed
in under 10 minutes. Grab a few important documents to get started.
  1. Tax Returns
  2. Copies of W-2s (or 1099s for independent contractors,
    freelancers and the self-employed)
  3. A payroll stub
  4. A bank statement
  5. Loan obligation info (student loans,
    auto loans and credit cards)

Applicant subject to credit and underwriting approval. Not all applicants will be approved for financing. Receipt of application does not represent an approval for financing or interest rate guarantee. Restrictions may apply. 

All information provided in this publication is for informational and educational purposes only, and in no way is any of the content contained herein to be construed as financial, investment, or legal advice or instruction. Guaranteed Rate does not guarantee the quality, accuracy, completeness or timelines of the information in this publication. While efforts are made to verify the information provided, the information should not be assumed to be error-free. Some information in the publication may have been provided by third parties and has not necessarily been verified by Guaranteed Rate. Guaranteed Rate its affiliates and subsidiaries do not assume any liability for the information contained herein, be it direct, indirect, consequential, special, or exemplary, or other damages whatsoever and howsoever caused, arising out of or in connection with the use of this publication or in reliance on the information, including any personal or pecuniary loss, whether the action is in contract, tort (including negligence) or other tortious action.