Monday, February 27, 2017

Tuesday: GDP, Case-Shiller House Prices, Chicago PMI

by Bill McBride on 2/27/2017 09:30:00 PM

From Matthew Graham at Mortgage News Daily: Mortgage Rates Slightly Higher

Mortgage rates moved slightly higher after a strong run to the lowest levels of the year as of last Friday. ... For now, rates are still much closer to 2017's lows. Most borrowers would be quoted the same rate as last Friday, but with slightly higher upfront costs today. The average lender continues to quote 4.125% on top tier scenarios, though there are a few lenders at 4.0% and 4.25%.
emphasis added
Tuesday:
• At 8:30 AM ET, Gross Domestic Product, 4th quarter 2016 (second estimate). The consensus is that real GDP increased 2.1% annualized in Q4, up from the advance estimate of 1.9%.

• At 9:00 AM, S&P/Case-Shiller House Price Index for December. Although this is the December report, it is really a 3 month average of October, November and December prices. The consensus is for a 5.4% year-over-year increase in the Comp 20 index for December.

• At 9:45 AM, Chicago Purchasing Managers Index for February. The consensus is for a reading of 52.9, up from 50.3 in January.

• At 10:00 AM, Richmond Fed Survey of Manufacturing Activity for February. This is the last of the regional Fed surveys for February.