Wednesday: Existing Home Sales, FOMC Announcement

Wednesday:
• At 7:00 AM ET, The Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index.

• During the day, The AIA’s Architecture Billings Index for August (a leading indicator for commercial real estate).

• At 10:00 AM, Existing Home Sales for August from the National Association of Realtors (NAR). The consensus is for 5.81 million SAAR, down from 5.99 million in July.

• At 2:00 PM, FOMC Meeting Announcement. See FOMC Preview: Tapering “Advance Notice” Likely

• At 2:00 PM, FOMC Forecasts This will include the Federal Open Market Committee (FOMC) participants’ projections of the appropriate target federal funds rate along with the quarterly economic projections.

• At 2:30 PM, Fed Chair Jerome Powell holds a press briefing following the FOMC announcement.

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