by Calculated Risk on 11/06/2017 06:11:00 PM

From Matthew Graham at Mortgage News Daily: Mortgage Rates Drift Calmly Down to 3-Week Lows

Mortgage rates continued lower today, despite a blatant lack of underlying motivation in financial markets.  By that, I mean that we haven't seen any obvious cause and effect relationships between news, economic data, and bond market movements (which, in turn, drive interest rate movements).  Instead, bonds moved of their own volition.  While the move was modest, it was the 6th improvement in the past 7 business days.  The net effect is the best mortgage rate offerings in 3 weeks.

Several of the more aggressive lenders are again quoting top tier 30yr fixed rates of 3.875% while many remain at 4.0%. 

Tuesday:
• At 10:00 AM ET, Job Openings and Labor Turnover Survey for September from the BLS.

• Also at 10:00 AM, Corelogic House Price index for September.

• At 2:30 PM, Speech by Fed Chair Janet Yellen, Acceptance Remarks, At the presentation of the Paul H. Douglas Award for Ethics in Government, Washington, D.C.

• At 3:00 PM, Consumer Credit from the Federal Reserve. The consensus is for consumer credit to increase $17.4 billion in September.