by Calculated Risk on 1/31/2023 09:00:00 PM

Note: Mortgage rates are from MortgageNewsDaily.com and are for top tier scenarios.

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

• At 8:15 AM, The ADP Employment Report for January. This report is for private payrolls only (no government). The consensus is for 170,000 payroll jobs added in January, down from 235,000 added in December.

• At 10:00 AM, Construction Spending for December. The consensus is for a 0.1% decrease in construction spending.

• Also, at 10:00 AM, Job Openings and Labor Turnover Survey for December from the BLS.

• Also, at 10:00 AM, ISM Manufacturing Index for January. The consensus is for the ISM to be at 48.0, down from 48.4 in December.

• At 2:00 PM, FOMC Meeting Announcement. The FOMC is expected to announce a 25 bp hike in the Fed Funds rate.

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

• Late, Light vehicle sales for January. The consensus is for light vehicle sales to be 14.3 million SAAR in January, up from 13.3 million in December (Seasonally Adjusted Annual Rate).