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Wednesday: Housing Starts, Beige Book

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From Matthew Graham at Mortgage News Daily: Fighting For Survival or Accepting Fate
For traders who believe the Fed’s restrictive policies will eventually drive growth and inflation lower, it’s hard to make a case for longer-term yields going much above 4%, even with core inflation over 6%. If you ask traders, the actual outlook for inflation over the next 10 years is close to the Fed’s target range. … [30 year fixed 7.15%]
emphasis addedWednesday:
• At 7:00 AM ET, The Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index.

• At 8:30 AM, Housing Starts for September. The consensus is for 1.478 million SAAR, down from 1.575 million SAAR.

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

• At 2:00 PM, the Federal Reserve Beige Book, an informal review by the Federal Reserve Banks of current economic conditions in their Districts.

3rd Look at Local Housing Markets in September, California Sales off 30% YoY

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