Wednesday, January 20, 2016

Thursday: Unemployment Claims, Philly Fed Mfg Survey

by Bill McBride on 1/20/2016 06:58:00 PM

From Matthew Graham at Mortgage News Daily: Rates Head Back Toward Long Term Lows

Mortgage rates fell today, bringing them back in line with the lowest levels in more than 2 months and very near the best levels since late April 2015. ... The average lender is easily back into the "high 3's" when it comes to conventional 30yr fixed quotes for top tier scenarios. The only question is whether that means 3.75% or 3.875%. With today's improvements, quite a few lenders moved back down to to 3.75%. They don't necessarily represent a majority just yet, but it's getting to be a closer call.
• At 8:30 AM, the initial weekly unemployment claims report will be released. The consensus is for 275 thousand initial claims, down from 284 thousand the previous week.

• At 8:30 AM, the Philly Fed manufacturing survey for January. The consensus is for a reading of -4.0, up from -5.9.