Monday, June 25, 2018

Tuesday: Case-Shiller House Prices

by Bill McBride on 6/25/2018 07:01:00 PM

From Matthew Graham at Mortgage News Daily: Mortgage Rates Relatively Unchanged Despite Stock Losses

Conventional wisdom holds that interest rates tend to move in the same direction as stocks. This makes logical sense from a classical investment portfolio standpoint. If investors are selling stocks to buy bonds, the prices of stocks would fall and the price of bonds would rise. When bond prices rise, rates fall. But even with today's heavy losses in stocks, mortgage rates barely budged today. [30YR FIXED - 4.625% - 4.75%]
emphasis added
Tuesday:
• At 9:00 AM ET, S&P/Case-Shiller House Price Index for April. The consensus is for a 6.8% year-over-year increase in the Comp 20 index for April.

• At 10:00 AM, Richmond Fed Survey of Manufacturing Activity for June.