The Week Ahead, Oct. 31, 2022: All Eyes on The Fed
Good morning, and happy Monday! We’re back from Nashville, where more than 4,000 real estate finance professionals gathered last week for the Mortgage Bankers Association’s Annual Convention & Expo.
For those of you who attended, thank you for making #MBAAnnual22 a huge success. For those of you who didn’t attend—you missed a great convention. Make plans now to attend #MBAAnnual23, which will take place Oct. 15-18 in Philadelphia.
Now, let’s talk about what’s happening this week:
First, the Fed. The Federal Open Market Committee is back in the spotlight this week; its regularly scheduled Policy Meeting takes place Tuesday, Nov. 1 and Wednesday, Nov. 2, issuing its policy statement at 2:00 p.m. ET on Wednesday.
Consensus sees the FOMC raising the federal funds rate by another 75 basis points–with some second-guessing as to how much higher rates can–or should–go up, as recessionary fears grow.
MBA Chief Economist Mike Fratantoni will provide commentary and analysis of the FOMC meeting in the Thursday, Nov. 3 edition of MBA NewsLink.
Second, MBA Reports. This week, MBA will issue its updated Commercial/Multifamily Economic Forecast. MBA is also expected to announce its latest Affordable Housing Advisory Boards.
On Wednesday, Nov. 2, MBA will issue its Weekly Applications Survey, with commentary and analysis from MBA Vice President and Deputy Chief Economist Joel Kan.
Several key deadlines loom this week: Friday, Nov. 4 is the deadline for speaker proposals for the upcoming MBA Technology Solutions Conference & Expo, taking place Apr. 2-5 in Santa Clara, Calif.
Nov. 4 is also the submission deadline for the MBA Commercial/Multifamily Diversity, Equity and Inclusion Leadership Awards. For more information, click here.
Third, Other Economic Reports. The first week of the month (okay, we know today is still October) means one thing: jobs reports. This week we’ll see the monthly JOLTS (Job Openings and Labor Turnover Survey) report on Tuesday; the ADP National Employment Report (Wednesday); Initial Claims (Thursday) and the October Employment Report (Friday), with commentary and analysis in Monday’s MBA NewsLink from MBA Chief Economist Mike Fratantoni.
Here are this week’s other economic reports; those that MBA NewsLink will cover are in italics.
Monday: Dallas Fed Manufacturing Survey
Tuesday: CoreLogic Home Price Index; JOLTS; Construction; Institute for Supply Management Manufacturing Survey
Wednesday: MBA Weekly Applications Survey; ADP National Employment Report
Thursday: Initial Claims; Productivity and Costs; Trade Balance; Institute for Supply Management Non-Manufacturing Index; Manufacturing, Shipments and Orders
Friday: Employment
Fourth, Congress. The House and Senate remain in recess until after Election Day. Speaking of, Election Day is little more than a week away (Tuesday, Nov. 8).
All 435 House seats; 34 Senate seats; and nearly two dozen governorships are up for vote; at the federal level, control of the House and Senate hang in the balance. We encourage you to vote ahead of time or in person.
For more information about the House and Senate, visit www.house.gov and www.senate.gov, respectively. For more information about upcoming hearings in the Senate Banking Committee, click https://www.banking.senate.gov/hearings. For more information about upcoming hearings in the House Financial Services Committee, click https://financialservices.house.gov/calendar/?EventTypeID=577&Congress=117.
Fifth, MBA Conferences. Here’s a list of upcoming MBA conferences:
Nov. 2-3: MBA Commercial/Multifamily Technology Officer Roundtable, Washington, D.C. For more information, click here.
Nov. 8-10: MBA Accounting and Financial Management Conference, JW Marriott Phoenix Desert Ridge Resort & Spa. For more information, click here.
Jan. 23-26, 2023: MBA Independent Mortgage Bankers Conference, Coronado, Calif. For more information, click here.
Feb. 12-15, 2023: CREF 2023, San Diego. For more information, click here.
Feb. 21-24, 2023: MBA Servicing Solutions Conference & Expo, Orlando. For more information, click here.
Apr. 17-18, 2023: MBA State & Local Workshop, Washington, D.C. For more information, click here.
Apr. 18-19, 2023: MBA National Advocacy Conference, Washington, D.C. Fore more information, click here.
May 9-12, 2023: MBA Commercial/Multifamily Housing Servicing and Technology Conference, Chicago. For more information, click here.
May 21-24, 2023: MBA Secondary and Capital Markets Conference & Expo, New York. For more information, click here.
For more information, click the links above or visit https://www.mba.org/conferences-and-education/conferences-and-meetings.
For the most up-to-date information regarding legislative activity at the state and local level, visit the MBA State Legislative Database here.
For information about MBA Education events, visit http://www.mbaeducation.org.
For information about the National Association of Minority Mortgage Bankers of America (NAMMBA), visit https://www.nammba.org/.
Enjoy the week!
