by Bill McBride on 4/18/2017 08:39:00 PM
Tuesday, April 18, 2017
From Matthew Graham at Mortgage News Daily: Rates Pushing Deep Into Post-Election Range
After stumbling just slightly yesterday, mortgage rates returned to their recent habit of setting new 2017 lows today. At this point, we're getting closer and closer to post-election lows. You'd have to go all the way back to November, 14th 2016 to see anything lower.Wednesday:
In specific terms, even more lenders have joined the majority in quoting conventional 30yr fixed rates of 4.0% on top tier scenarios. The more aggressive lenders are now back into the high 3% territory (3.875% mainly, with a very small minority at 3.75%). Many lenders are quoting the same NOTE rates as yesterday, but today's upfront costs are moderately lower on average.
• At 7:00 AM ET, The Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index.
• During the day: The AIA's Architecture Billings Index for March (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.
Posted by Bill McBride on 4/18/2017 08:39:00 PM