What’s on the financial calendar for the week of 11/6 to 11/10?

autumnal landscape in Vermont | mortgage rate news

What does the financial calendar look like this week?

The following events, announcements and reports have the potential to impact the financial sector or the mortgage market this week:

Monday, November 6th

Fed Gov. Cook speaks
Federal Reserve senior loan survey – Oct 2023

Tuesday, November 7th

U.S. trade deficit – Sept 2023
Fed Vice Chair for Supervision Barr speaks
Fed Gov. Waller speaks
Consumer Credit – Sept 2023

Wednesday, November 8th

Fed Gov. Cook speaks
Fed Chair Powell delivers opening remarks at IMF
Wholesale inventories – Sept 2023
Fed Vice Chair for Supervision Barr speaks
Fed Vice Chair Jefferson speaks

Thursday, November 9th

Initial jobless claims – week of Nov. 4th
Fed Chair Jerome Powell on panel at IMF

Friday, November 10th

Veterans Day Holiday, no events scheduled

Where did mortgage rates end last week?

The national average for a 30-year, fixed rate mortgage ended Friday’s session down 0.13% to 7.38%*. The market reacted to a weaker than expected jobs report and a stronger than expected bond market. If data continues to trend as it has, 8.0% may be the high point for the market cycle. However, if there are unexpected data points, it may push mortgage rates back towards their highs.

The Fed speeches scheduled for this week are likely to impact the direction the bond market goes, and that will likely affect which direction mortgage rates head.

Is it possible to find a log cabin for less than $300k?

You absolutely can find the log cabin you’ve always wanted for less than $300,000. It just depends on where you want to live. The team at Realtor.com has searched through the listings and found multiple cute and comfy log cabins all priced at less than $300k.

The first home on the list is located in rural Waynesboro, TN, and is priced at $260,000. The home comes with 2,400 sq. ft. of living space including a partially finished basement. The rustic interior offers hardwood floors, vaulted ceilings, a cozy loft, and a screened back deck.

One of the most unique homes that made the list was a cabin in Coventry, VT. This home comes with 10 acres of land and 200 maple syrup taps that feed into collection tanks. The property is set up to allow you to harvest and make your own syrup.

The home also offers wood floors, ceilings, and walls. A wood stove provides heat in the living room, and a spacious deck and loft area adds move space on the second level.

* National average rates accurate as of 11/3/23 from MortgageNewsDaily.com and are not advertised rates from Guaranteed Rate.

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.