What’s on this week’s financial calendar?
The following announcements, events, and reports may have an impact on the financial markets or the mortgage sector for the week of June 24th through June 28th:
Monday, June 24th
Fed Governor Christopher Waller speech in Rome
Chicago Fed President Austan Goolsbee TV appearance
San Francisco Fed President Mary Daly speech
Tuesday, June 25th
Fed Governor Michelle Bowman speech in London
S&P Case-Shiller home price index – April 2024
Consumer confidence – May 2024
Fed Governor Lisa Cook speaks
Wednesday, June 26th
New home sales – May 2024
Thursday, June 27th
Initial jobless claims – Week of June 22nd
GDP – Q1 2024
Durable-goods orders – May 2024
Durable-goods minus transportation – May 2024
Pending home sales – May 2024
Friday, June 28th
Richmond Fed President Tom Barkin speech in Paris
Personal income – May 2024
Personal spending – May 2024
PCE index – May 2024 & year-over-year
Core PCE index – May 2024 & year-over-year
Chicago Business Barometer (PMI) – June 2024
Consumer sentiment – June 2024
Fed Governor Michelle Bowman speaks
Where are mortgage rates at the start of summer?
The national average mortgage rate for a 30-year, fixed-rate mortgage dipped 0.01% to 7.01%* on Friday. Mortgage rates are near their three-month lows and have dropped well below the peak observed in March 2024.
Next week has some Fedspeak, and a few data points that may provide direction if we see significant change, but the next ‘main event’ level data point won’t occur until July. The first week of July will see a lot of job market data reporting. It’s been made clear that the job market is one of the indicators that the Federal Reserve is using to decide interest rates. A cool jobs report may help the Fed accelerate their timetable for rate cuts.
Which markets are the easiest to buy a home?
A recent report from CNBC detailed the easiest markets in the U.S. to buy into. Their team reviewed markets for home cost, the level of competition, home inventory levels, and the economic stability of the area.
According to their findings, the easiest market to purchase a home in the U.S. is in Iroquois County, IL. Ranking first in the list for cost, Iroquois County is one of the most affordable areas of the U.S. to buy into. Iroquois County also scored well for economic stability and the level of competition to buy a home.
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