Which events are scheduled for the week of 11/13 to 11/17?
The following events, speeches, and reports are scheduled for the upcoming week:
Monday, November 13th
Fed Governor Lisa Cook speaks
Monthly U.S. federal budget – Oct 2023
Tuesday, November 14th
New York Fed President John Williams speaks
Fed Vice Chair Philip Jefferson speaks
NFIB optimism index – Oct 2023
Consumer price index – Oct 2023 & year-over-year
Core PCI – Oct 2023 & year-over-year
Fed Vice Chair for Supervision Michael Barr testifies to Senate panel
Chicago Fed President Austan Goolsbee speaks
Wednesday, November 15th
Produce price index – Oct 2023 & year-over-year
Core PPI – Oct 2023 & year-over-year
U.S. retail sales – Oct 2023
Retail sales minus autos – Oct 2023
New York Fed President John Williams speaks
Business inventories – Sept 2023
Fed Vice Chair for Supervision Michael Barr testifies to House panel
Richmond Fed President Tom Barkin speaks
Thursday, November 16th
Fed Vice Chair for Supervision Michael Barr speaks
Initial jobless claims – Week of Nov 11th
Import price index – Oct 2023
Import price index minus fuel – Oct 2023
Philadelphia Fed manufacturing survey – Nov 2023
Cleveland Fed President Loretta Mester speaks
Industrial production – Oct 2023
Capacity utilization – Oct 2023
New York Fed President John Williams speaks
Home builder confidence index – Nov 2023
Fed Governor Christopher Waller speaks
Fed Governor Lisa Cook speaks
Friday, November 17th
Housing starts – Oct 2023
Building permits – Oct 2023
Boston Fed President Susan Collins speaks
Fed Vice Chair for Supervision Michael Barr speaks
Chicago Fed President Goolsbee speaks
San Francisco Fed President Daly speaks
Boston Fed President Susan Collins TV appearance
Will mortgage rates head lower after the next Fed meeting?
CBS News looked into what to expect from the next meeting of the Federal Reserve board in December. Should homebuyers expect mortgage rates to head downwards, stay the same, or inch higher?
The conclusion is that it really depends on what the Fed decides to do in their final meeting of the year in December. “Their decision to raise rates, hold rates or cut rates is really based on inflation and unemployment,” says Nick Covyeau, a certified financial planner at Swell Financial.
First, the Fed will want to understand the most recent inflation and employment metrics. From there, they’ll decide whether to hike rates, keep them the same, or cut rates. The Fed has chosen to pause rate movement in its last two meetings. Analysts are currently undecided on whether the Fed will continue the pause or hike rates. Most experts included in the report agree that a rate cut is extremely unlikely at this point.
It’s also important to remember that the Fed doesn’t impact mortgage rates directly. The Fed’s moves affect the bond market which does have an impact on the mortgage market.
Where are the most expensive zip codes to live in the U.S.?
Every year, PropertyShark updates its list of the 100 most expensive zip codes, and most of the time, it’s a tale of two coasts. The list has been dominated by zip codes in the northeast and along the west coast in almost every version of the list. 2023 isn’t much different.
Atherton, CA and Sagaponack, NY both posted median home prices over $8 million for the first time, with home prices in Sagaponack rising 40% and Atherton maintaining its top spot.
Of the country’s 100 most expensive zip codes, all of them are in 11 states with 65% of the list located in California.
More than half the country’s most exclusive zip codes saw record price drops year-over-year. In 2022 only 15% of the most expensive zip codes showed price drops year-over-year.
NYC continues to boast the highest concentration of expensive zip codes, and San Francisco continues to see losses when comparing historic data.
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