Tuesday, January 16, 2018

Wednesday: Industrial Produciton, Homebuilder Survey, Beige Book

by Bill McBride on 1/16/2018 06:58:00 PM

From Matthew Graham at Mortgage News Daily: Mortgage Rates Still Working on That Ceiling

Mortgage rates didn't move much today. Most lenders were just slightly lower/better this morning, but mid-day market weakness prompted several of them to reissue higher rates. In the bigger picture, however, the past several days represent a welcome stint of relative calm. The general trend had been toward higher rates beginning in mid-December. [30YR FIXED - 4.125%]
emphasis added
• At 7:00 AM ET, The Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index.

• At 9:15 AM, The Fed will release Industrial Production and Capacity Utilization for December. The consensus is for a 0.4% increase in Industrial Production, and for Capacity Utilization to increase to 77.3%.

• At 10:00 AM, The January NAHB homebuilder survey. The consensus is for a reading of  73, down from 74 in December. Any number above 50 indicates that more builders view sales conditions as good than poor.

• At 2:00 PM, the Federal Reserve Beige Book, an informal review by the Federal Reserve Banks of current economic conditions in their Districts.