by Bill McBride on 10/23/2012 09:03:00 PM
Tuesday, October 23, 2012
The FHFA house price index for August was released late today (GSE loans). FHFA House Price Index Up 0.7 Percent in August:
U.S. house prices rose 0.7 percent on a seasonally adjusted basis from July to August, according to the Federal Housing Finance Agency’s monthly House Price Index (HPI). The previously reported 0.2 percent increase in July was revised downward to a 0.1 percent increase. For the 12 months ending in August, U.S. prices rose 4.7 percent. The U.S. index is 15.9 percent below its April 2007 peak and is roughly the same as the June 2004 index level.This was above the consensus of a 0.4% increase in August.
• At 7:00 AM ET, the Mortgage Bankers Association (MBA) will release the mortgage purchase applications index.
• At 9:00 AM, the Markit US PMI Manufacturing Index Flash will be released. This is a new release and might provide hints about the ISM PMI for October. The consensus is for a reading of 51.5, unchanged from September.
• At 10:00 AM, New Home Sales for September will be released by the Census Bureau. The consensus is for an increase in sales to 385 thousand Seasonally Adjusted Annual Rate (SAAR) in August from 373 thousand in August. Watch for possible upgrades to the sales rates for previous months.
• At 2:15 PM, the FOMC Meeting statement will be released. No significant changes are expected. I posted a FOMC preview yesterday.
• During the day: The AIA's Architecture Billings Index for September (a leading indicator for commercial real estate).
Another question for the October economic prediction contest (Note: You can now use Facebook, Twitter, or OpenID to log in).
Posted by Bill McBride on 10/23/2012 09:03:00 PM