Monday, April 23, 2018

Tuesday: New Home Sales, Case-Shiller House Prices

by Bill McBride on 4/23/2018 08:16:00 PM

From Matthew Graham at Mortgage News Daily: NOW Mortgage Rates Are at 4-Year Highs

Mortgage rates moved markedly higher today, officially leaving them at new 4-year highs.
...
The average lender is quoting very well-qualified borrowers with huge downpayments something north of 4.5% on conventional 30yr fixed mortgages today. Let's call it 4.625%. Up until Friday, that number hadn't been over 4.5% except for on a few of those ill-fated February days. [30YR FIXED - 4.625%]
emphasis added
Tuesday:
• At 9:00 AM ET, S&P/Case-Shiller House Price Index for February. The consensus is for a 6.2% year-over-year increase in the Comp 20 index for February.

• Also at 9:00 AM, FHFA House Price Index for February 2018. This was originally a GSE only repeat sales, however there is also an expanded index.

• At 10:00 AM, New Home Sales for March from the Census Bureau. The consensus is for 630 thousand SAAR, up from 618 thousand in February.

• Also at 10:00 AM, Richmond Fed Survey of Manufacturing Activity for April.