by Bill McBride on 11/09/2016 07:16:00 PM
Wednesday, November 09, 2016
From Matthew Graham at Mortgage News Daily: Worst Day For Mortgage Rates in Over 3 Years
Mortgage Rates skyrocketed today, relative to their average range of movement. It was the single biggest move higher since the days of the taper tantrum in mid-2013. Virtually all lenders are quoting conventional 30yr fixed rates that are at least an eighth of a point higher versus yesterday. Over the past decade, you can count single-day eighth-point moves without using any toes. Some lenders were a quarter point higher, which has only happened a few times, ever.Thursday:
• 8:30 AM ET, The initial weekly unemployment claims report will be released. The consensus is for 263 thousand initial claims, down from 265 thousand the previous week.
Posted by Bill McBride on 11/09/2016 07:16:00 PM