Monday, September 24, 2018

Tuesday: Case-Shiller House Prices

by Bill McBride on 9/24/2018 06:25:00 PM

From Matthew Graham at Mortgage News Daily: Mortgage Rates Treading Water Near Long-Term Highs

Mortgage rates are having a bleak September, having risen at least an eighth of a percentage point in all cases and by a quarter of a point in many cases. Depending on the lender and scenario, conventional 30yr fixed rates of 5.0% aren't out of the question although 4.875% remains far more prevalent for borrowers with lots of equity/down-payment and top-tier credit. Either way, that's as high as mortgage rates have been since 2011 for most lenders. [30YR FIXED - 4.75-4.875%]
emphasis added
• At 9:00 AM ET, S&P/Case-Shiller House Price Index for July. The consensus is for a 6.3% year-over-year increase in the Comp 20 index for July.

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

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