Monday, September 25, 2017

Tuesday: New Home Sales, Case-Shiller House Prices, Yellen Speech and More

by Bill McBride on 9/25/2017 06:17:00 PM

From Matthew Graham at Mortgage News Daily: Mortgage Rate Resilience Continues

Mortgage rates held their ground yet again, and are finally starting to look resilient after a relatively sharp move higher over the past 2 weeks.  This was true even before mid-day headlines put additional downward pressure on rates. ... Some lenders responded to the bond market improvements by adjusting today's rate sheets.  Other lenders maintained the same rates from the morning and thus will be more likely to offer better pricing tomorrow, assuming minimal bond market movement overnight. [30YR FIXED - 3.875-4.0%]
Tuesday:
• At 9:00 AM ET: S&P/Case-Shiller House Price Index for July. The consensus is for a 5.9% year-over-year increase in the Comp 20 index for July.

• At Early: Reis Q3 2017 Apartment Survey of rents and vacancy rates.

• At 10:00 AM ET: New Home Sales for August from the Census Bureau. The consensus is for 583 thousand SAAR, unchanged from 571 thousand in July.

• At 10:00 AM: Richmond Fed Survey of Manufacturing Activity for September.

• At 12:45 PM: Speech by Fed Chair Janet Yellen, Inflation, Uncertainty, and Monetary Policy, 59th NABE Annual Meeting, Cleveland, Ohio