Wednesday: FOMC Statement, ISM Services, ADP Employment, HVS Vacancies and Homeownership

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 April. This report is for private payrolls only (no government). The consensus is for 135,000 payroll jobs added in April, down from 145,000 added in March.

• At 10:00 AM, the Q1 2023 Housing Vacancies and Homeownership from the Census Bureau.

• Also at 10:00 AM, the ISM Services Index for April.   The consensus is for a reading of 51.7, up from 51.2.

• At 2:00 PM, FOMC Meeting Announcement. The FOMC is expected to raise the Fed Funds rate by 25bp at this meeting and indicate a likely "pause" in June.

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