What’s on the financial calendar for the week of 4/29 – 5/3?

Woman on Porch Looking Out | mortgage rate news

What’s on this week’s financial calendar?

The following announcements, events, and reports are scheduled for the week of April 29th – May 3rd:

Monday, April 29th

None scheduled

Tuesday, April 30th

Employment cost index – Q1 2024
S&P Case-Shiller home price index (20 cities) – February 2024
Chicago Business Barometer (PMI) – April 2024
Consumer confidence – April 2024

Wednesday, May 1st

ADP employment – April 2024
Construction spending – March 2024
ISM manufacturing – April 2024
Job openings – March 2024
FOMC interest-rate decision
Fed Chair Powell press conference
Auto sales – April 2024

Thursday, May 2nd

Initial jobless claims – Week of April 27th
U.S. trade deficit – March 2024
U.S. productivity – Q1 2024
U.S. unit-labor costs – Q1 2024
Factory orders – March 2024

Friday, May 3rd

U.S. employment report – April 2024
U.S. unemployment rate – April 2024
U.S. hourly wages – April 2024 & year-over-year
ISM services – April 2024
Chicago Fed President Austan Goolsbee speech
New York Fed President John Williams speech

What does $325k get you in Minneapolis?

Recent data collected by Axios showed that markets like Robbinsdale, Columbia Heights and Corcoran are the latest homebuying hotspots in the greater Minneapolis metro area. Is it possible to still get a deal around Minneapolis? What can you really get if you’re buying below the current national median home price?

Columbia Heights has an upgraded two-bedroom home listed at $215k and a three-bedroom home with an updated kitchen and a cozy backyard for $325k. Robbinsdale had a three-bedroom single-family home listed at $285k.

These listings are found in a couple of the hottest areas in Minneapolis. If you’re looking to find a home in popular suburbs, there are listings out there. However, if you’re looking for a mortgage, Guaranteed Rate can help. Start with a mortgage pre-approval, and begin your journey to a new home with us!

What are local real estate agents saying about the market?

It pays for real estate agents to know their local markets, literally. So, what are they saying about the current market conditions? What are they expecting for the upcoming summer market? NorthernExpress.com surveyed a group of agents based in Michigan to get their thoughts on current conditions.

When it comes to inventory, most still believe that there are more buyers than available listings. Craig Lively, an agent who owns RE/MAX Lighthouse in Petoskey, MI, stated, “Buyers are definitely being a bit more discriminating as far as waiving any contingencies like home inspections, but it’s still a sellers’ market. We still have more buyers than we do homes.”

Buyers looking to relocate and buyers looking for a small-town experience are both on the rise. Shawn Schmidt Smith of Coldwell Banker in Traverse City, MI said, “Now that people can work from home and don’t have to go in as much, it’s changing a lot of things. These beautiful parts of the world are becoming more expensive.”

Most agents are also expecting prices to rise as the temperatures rise. Mike Annelin of Century 21 Northland in Traverse City, MI said, “Generally speaking, I think that you find that housing prices definitely climb in the spring and early summer. It’s a more convenient time to buy, and I think people are more excited about making a change going into the summer.”

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.