Thursday, October 19, 2017

Friday: Existing Home Sales, Yellen Speech

by Bill McBride on 10/19/2017 07:19:00 PM

Note: It is possible that a new Fed Chair will be announced (or hopefully reappointed) on Friday.  If not tomorrow, the announcement will probably happen any time during the next couple of weeks.

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

Mortgage rates were unchanged to slightly lower today.  ... We're splitting hairs in the bigger picture, however, as rates are still in a very narrow range in general.  Few borrowers will have seen any change in their quoted rates.  Most adjustments have come in the form of slightly higher/lower closing costs over the past few weeks. [30YR FIXED - 3.875-4.0%]
• At 10:00 AM ET, Existing Home Sales for September from the National Association of Realtors (NAR). The consensus is for 5.30 million SAAR, down from 5.35 million in August. Housing economist Tom Lawler expects the NAR to report sales of 5.38 million SAAR for September.

• Also at 10:00 AM, Regional and State Employment and Unemployment (Monthly) for September 2017

• At 7:30 PM, Speech by Fed Chair Janet Yellen, Monetary Policy Since the Financial Crisis, At the National Economists Club Herbert Stein Memorial Lecture and Annual Dinner, Washington, D.C