by Bill McBride on 1/17/2017 05:28:00 PM
Tuesday, January 17, 2017
From Matthew Graham at Mortgage News Daily: Mortgage Rates Back Near 2-Month Lows
Mortgage rates moved lower today, generally recovering the losses seen last Friday. This brings many lenders back in line with the lowest levels since November 17th, although last Wednesday (Jan 11) was slightly better on average. There hasn't been enough volatility to unseat 4.125% as the most prevalent 30yr fixed "note rate" on top tier scenarios. As such, today's improvement is limited to "effective rates" (which take closing costs into consideration)..Wednesday:
• At 7:00 AM ET, the Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index.
• 8:30 AM, the Consumer Price Index for December from the BLS. The consensus is for 0.3% increase in CPI, and a 0.2% increase in core CPI.
• At 9:15 AM: The Fed will release Industrial Production and Capacity Utilization for December. The consensus is for a 0.6% increase in Industrial Production, and for Capacity Utilization to increase to 75.4%.
• At 10:00 AM, The January NAHB homebuilder survey. The consensus is for a reading of 69, down from 70 in December. Any number above 50 indicates that more builders view sales conditions as good than poor.
• During the day, The AIA's Architecture Billings Index for December (a leading indicator for commercial real estate).
• At 2:00 PM, the Federal Reserve Beige Book, an informal review by the Federal Reserve Banks of current economic conditions in their Districts.
• At 3:00 PM, Speech, Fed Chair Janet Yellen, The Goals of Monetary Policy and How We Pursue Them, At the Commonwealth Club, San Francisco, California
Posted by Bill McBride on 1/17/2017 05:28:00 PM