Treasury yields are close to unchanged this morning following a quiet overnight session.
The MBA mortgage applications index fell by 0.7% last week after dropping 1.6% the week prior. Purchase applications were down 0.2%, while refinancings were 1.6% lower – the average 30-year rate fell to 6.93% from 6.97%. According to the Case Shiller 20-City composite index, home prices are up 0.2% month-over-month and 6.6% year-over-year. Low inventory levels continue to buoy home values despite higher interest rates, and the combination of prices and rates has kept affordability low.
Hafizan Hamzah
Senior Director, Investment Management Group
| Date | Event | Surv(M) | Actual | Prior | Revised |
| 03/27/24 | MBA Mortgage Applications | — | -0.70% | -1.60% | — |
| 03/27/24 | Revisions: Wholesale sales, inventories | ||||
| 03/28/24 | GDP Annualized QoQ | 3.20% | — | 3.20% | — |
| 03/28/24 | Personal Consumption | 3.00% | — | 3.00% | — |
| 03/28/24 | GDP Price Index | 1.60% | — | 1.60% | — |
| 03/28/24 | Core PCE Price Index QoQ | 2.10% | — | 2.10% | — |
| 03/28/24 | Initial Jobless Claims | 212k | — | 210k | — |
| 03/28/24 | Continuing Claims | 1815k | — | 1807k | — |
| 03/28/24 | MNI Chicago PMI | 46 | — | 44 | — |
| 03/28/24 | Pending Home Sales MoM | 1.50% | — | -4.90% | — |
| 03/28/24 | Pending Home Sales NSA YoY | — | — | -6.80% | — |
| 03/28/24 | U. of Mich. Sentiment | 76.5 | — | 76.5 | — |
| 03/28/24 | U. of Mich. Current Conditions | — | — | 79.4 | — |
| 03/28/24 | U. of Mich. Expectations | — | — | 74.6 | — |
| 03/28/24 | U. of Mich. 1 Yr Inflation | 3.10% | — | 3.00% | — |
| 03/28/24 | U. of Mich. 5-10 Yr Inflation | 2.90% | — | 2.90% | — |
| 03/28/24 | Kansas City Fed Manf. Activity | -5 | — | -4 | — |
| 03/29/24 | Personal Income | 0.40% | — | 1.00% | — |
| 03/29/24 | Personal Spending | 0.50% | — | 0.20% | — |
| 03/29/24 | Real Personal Spending | 0.10% | — | -0.10% | — |
| 03/29/24 | PCE Deflator MoM | 0.40% | — | 0.30% | — |
| 03/29/24 | PCE Deflator YoY | 2.50% | — | 2.40% | — |
| 03/29/24 | PCE Core Deflator MoM | 0.30% | — | 0.40% | — |
| 03/29/24 | PCE Core Deflator YoY | 2.80% | — | 2.80% | — |
| 03/29/24 | Advance Goods Trade Balance | -$90.0b | — | -$90.2b | -$90.5b |
| 03/29/24 | Retail Inventories MoM | 0.40% | — | 0.50% | 0.40% |
| 03/29/24 | Wholesale Inventories MoM | 0.20% | — | -0.30% | — |
| 03/29/24 | Kansas City Fed Services Activity | — | — | 12 | — |
