Tuesday: Trade Deficit

From Matthew Graham at Mortgage News Daily: Mortgage Rates Begin Week Higher

Mortgage rates were slightly higher today relative to last Friday's levels, leaving them near the 2-year highs seen last Thursday. Volatility continues to run much higher than normal, with lots of intraday reprices (lenders changing rates in the middle of the business day) over the past 2 weeks, and generally big changes from day to day.
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Most lenders are quoting conventional 30yr fixed rates between 4.125 and 4.25% on top tier scenarios.
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Tuesday:
• At 8:30 AM ET, Trade Balance report for October from the Census Bureau. The consensus is for the U.S. trade deficit to be at $42.0 billion in October from $36.4 billion in September.

• At 10:00 AM, Manufacturers' Shipments, Inventories and Orders (Factory Orders) for October. The consensus is a 2.7% increase in orders.