Tuesday, January 03, 2017

Wednesday: Auto Sales, Office Vacancy Survey, FOMC Minutes

by Bill McBride on 1/03/2017 06:25:00 PM

From Matthew Graham at Mortgage News Daily: Mortgage Rates Lowest in Weeks

Mortgage rates improved slightly to begin 2017, bringing them to the lowest levels in nearly a month, on average. December 8th was the last time rates were lower. During December, conventional 30yr fixed quotes were straying into the 4.375%-4.5% territory for many lenders. Now, nearly every lender is back down to 4.25% at least, with several already down to 4.125%. These rates assume a top tier scenario with no negative adjustments.
emphasis added
Wednesday:
• At 7:00 AM ET, The Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index.

• Early, Reis Q4 2016 Office Survey of rents and vacancy rates.

• All day: Light vehicle sales for December. The consensus is for light vehicle sales to decrease to 17.7 million SAAR in December, from 17.9 million in  November (Seasonally Adjusted Annual Rate).

• At 2:00 PM, The Fed will release the FOMC minutes for the December meeting.