Wednesday: Existing Home Sales, FOMC Statement

by Calculated Risk on 9/20/2022 09:00:00 PM

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

o At 10:00 AM, Existing Home Sales for August from the National Association of Realtors (NAR). The consensus is for 4.70 million SAAR, down from 4.81 million in July.

o At 2:00 PM, FOMC Meeting Announcement. The FOMC is expected to raise the Fed Funds rate by 75bp at this meeting.

o 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.

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

On COVID (focus on hospitalizations and deaths):

COVID MetricsNowWeekAgoGoalNew Cases per Day254,15269,550<=5,0001Hospitalized225,64428,773<=3,0001Deaths per Day2355374<=5011my goals to stop daily posts,27-day average for Cases, Currently Hospitalized, and Deaths? Increasing 7-day average week-over-week for Cases, Hospitalized, and Deaths
? Goal met.

Click on graph for larger image.

This graph shows the daily (columns) and 7-day average (line) of deaths reported.

Average daily deaths bottomed in July 2021 at 214 per day.