Tuesday, September 04, 2018

Wednesday: Trade Deficit

by Bill McBride on 9/04/2018 07:31:00 PM

From Matthew Graham at Mortgage News Daily: Mortgage Rates Snap Back to Recent Highs

Mortgage rates moved higher today, reversing the improvement seen last Friday. The average lender is now back in line with their highest levels of the past few weeks, although that statement requires some qualification. During that time, mortgage rates have been in such a narrow range that we can only measure day-to-day changes in terms of upfront closing costs/credits. Actual interest rates haven't moved, but "effective rates" are back at recent highs. [30YR FIXED - 4.625% - 4.75%]
emphasis added
Wednesday:
• At 7:00 AM ET: The Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index.

• At 8:30 AM: Trade Balance report for July from the Census Bureau. The consensus is for the U.S. trade deficit to be at $50.2 billion in July from $46.3 billion in June.