by Bill McBride on 2/15/2017 08:27:00 PM
Wednesday, February 15, 2017
From Matthew Graham at Mortgage News Daily: Mortgage Rates Approach 3-Week Highs
Mortgage rates rose for the 5th day in a row following a higher reading in this morning's inflation data and an upbeat Retail Sales report. ... Today's increase brings mortgage rates close to their highest level in 3 weeks. You'd have to go back to January 25th to see worse. That said, "worse" is a relative term. Both then and now, a top tier scenario would result in a conventional 30yr fixed rate of 4.25%. Today's upfront costs would be just slightly lower. Only a few lenders remain at 4.125% on comparable scenarios and several have moved up to 4.375%.Thursday:
• At 8:30 AM, 8:30 AM: Housing Starts for January. The consensus is for 1.232 million, up from the December rate of 1.226 million.
• Also at 8:30 AM, the Philly Fed manufacturing survey for February. The consensus is for a reading of 23.6, up from 19.3.
• At 11:00 AM, The New York Fed will release their Q4 2016 Household Debt and Credit Report
Posted by Bill McBride on 2/15/2017 08:27:00 PM