Monday, December 17, 2018

Tuesday: Housing Starts

by Bill McBride on 12/17/2018 07:12:00 PM

From Matthew Graham at Mortgage News Daily: Mortgage Rates Little-Changed Despite Market Gains

Mortgage rates were fairly flat yet again today. Unlike Friday, today's market movement made a case for a bit of a drop. "Market gains" mean different things when talking about bonds/rates (as opposed to stocks). In today's case, bond markets improved while stocks lost ground.
...
we head into tomorrow at a slight advantage in terms of mortgage rates. In other words, if underlying bond markets were to hold completely flat overnight, the average lender would be able to offer slightly improved terms in the morning. Lenders who already repriced today (there were a few of them) would be the exception. [30YR FIXED - 4.75%]
emphasis added
Tuesday:
• At 8:30 AM ET, Housing Starts for November. The consensus is for 1.222 million SAAR, down from 1.228 million SAAR.