Tuesday, February 20, 2018

Wednesday: Existing Home Sales, FOMC Minutes

by Bill McBride on 2/20/2018 05:38:00 PM

From Matthew Graham at Mortgage News Daily: Mortgage Rates Unable to Extend Last Week's Gains

Mortgage rates moved back up today after ending last week on a positive note. Improvements in rates have been uncommon so far in 2018. In fact, we haven't seen more than 2 consecutive days without a move higher. In that sense, today keeps the prevailing trend intact. If there's a saving grace, it's that rates didn't quite rise back above last week's highs. [30YR FIXED - 4.625%]
emphasis added
• At 7:00 AM ET,The Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index.

• At 10:00 AM, Existing Home Sales for January from the National Association of Realtors (NAR). The consensus is for 5.65 million SAAR, up from 5.57 million in December. Housing economist Tom Lawler expects the NAR to report sales of 5.48 million SAAR for January.   Take the under!

• During the day, The AIA's Architecture Billings Index for January (a leading indicator for commercial real estate).

• At 2:00 PM, FOMC Minutes, Meeting of January 30-31, 2018