Note: Mortgage rates are from MortgageNewsDaily.com and are for top tier scenarios.
Wednesday:
• At 7:00 AM ET, The Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index.
• At 8:30 AM, The initial weekly unemployment claims report will be released. The consensus is for 220 thousand initial claims, up from 213 thousand last week.
• Also at 8:30 AM, Gross Domestic Product (Second Estimate) and Corporate Profits (Preliminary), 3rd Quarter 2024. The consensus is that real GDP increased 2.8% annualized in Q3, unchanged from the advance estimate of 2.8% in Q3.
• Also at 8:30 AM, Durable Goods Orders for October from the Census Bureau. The consensus is for a 0.1% increase in durable goods orders.
• At 9:45 AM, Chicago Purchasing Managers Index for November.
• At 10:00 AM, Personal Income and Outlays, October 2024. The consensus is for a 0.3% increase in personal income, and for a 0.4% increase in personal spending. And for the Core PCE price index to increase 0.3%. PCE prices are expected to be up 2.1% YoY, and core PCE prices up 2.7% YoY.
• Also at 10:00 AM, Pending Home Sales Index for October.