Wednesday, October 25, 2017

Thursday: Unemployment Claims, Pending Home Sales

by Bill McBride on 10/25/2017 08:02:00 PM

From Matthew Graham at Mortgage News Daily: Rates Now Up an Eighth of a Point From Last Week

Mortgage rates continued higher at a relatively fast pace today, pushing farther into the highest levels since early July.  As of this afternoon, the average lender is right in line with those rate offerings from July.  Any higher and we'd have to go back another 2 months to see comparable rates.
...
In fact, for many lenders, the cost of offering a 30yr fixed rate of 3.875% last week now matches the cost of a 4.0% rate this week.  Clients who'd seen quotes of 4.0% are now seeing 4.125%.  The average is somewhere in between for top tier scenarios.
emphasis added
Thursday:
• At 8:30 AM ET, The initial weekly unemployment claims report will be released. The consensus is for 235 thousand initial claims, up from 222 thousand the previous week.

• At 10:00 AM, Pending Home Sales Index for September. The consensus is for a 0.5% increase in the index.