What’s on the financial calendar for the week of 2/26 – 3/1?

Aerial view of very wealthy neighborhood in Northern New Jersey | mortgage rate news

What’s on the schedule for this week?

The following announcements, events and reports may have an impact on the financial or mortgage markets:

Monday, February 26th

New home sales – January 2024

Tuesday, February 27th

Durable goods orders – January 2024
Durable goods minus transportation – January 2024
S&P Case-Shiller home price index (20 cities)
Consumer confidence – February 2024

Wednesday, February 28th

GDP (first revision) – Q4 2024
Advanced U.S. trade balance in goods – January 2024
Advanced retail inventories – January 2024
Advanced wholesale inventories – January 2024
Atlanta Fed President Raphael Bostic speaks

Thursday, February 29th

Initial jobless claims – Week of February 24th
Personal income (nominal) – January 2024
Personal spending (nominal) – January 2024
PCE & Core PCE Indices – January 2024 & year-over-year
Chicago Business Barometer (PMI) – February 2024
Pending home sales – January 2024
Atlanta Fed President Raphael Bostic speaks
Chicago Fed President Austan Goolsbee speaks
Cleveland Fed President Loretta Mester speaks
Kansas City Fed President Jeff Schmid speaks

Friday, March 1st

S&P U.S. manufacturing PMI (final) – February 2024
ISM manufacturing – February 2024
Construction spending – January 2024
Consumer sentiment – February 2024
Dallas Fed President Lorie Logan speaks
Fed Governor Chris Waller speaks
Atlanta Fed President Raphael Bostic speaks
San Francisco Fed President Mary Daly speaks

Where did mortgage rates end last week?

The national average for a 30-year, fixed-rate mortgage rate ended down 0.08% to 7.08%* by the end of Friday’s session. An early bond market rally pushed mortgage rates lower before drifting in light afternoon trading.

The market seemed to shrug off bearish comments from the Federal Reserve. We’ll get a lot more Fedspeak this week, so there’s a chance that this week’s speeches have more of an impact.

Updated spring market predictions for New Jersey

A recent article from NJ.com broke down how the New Jersey real estate market is performing and how the spring is shaping up.

According to their data, nearly every town in New Jersey is expected to see an increase in home values. In fact, only eight zip codes out of 547 are predicted to see a decline in home values by April 2024.

The hottest town in New Jersey? Lawnside in Camden County is predicted to see a 3.2% average increase in home values by next April. Ewing and Gibbsboro are the only two other towns predicted to see an increase of 3% over the spring.

* National average rates accurate as of 2/23/24 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.