Mortgage rates continued moving higher today as Fridays unfortunate series of events seems to have motivated a big bounce. What events are those? Namely, we're talking about several important economic reports including the big jobs report and the most closely-watched manufacturing report from ISM. These were joined by two other supporting actors (Consumer Sentiment and Factory Orders) to round out an entire morning of data that came in much stronger than expected.Tuesday:
The good news is that US Treasury yields have been suffering more than mortgages. Apart from the last 3 business days, rates are still in line with their lowest levels in months. [30YR FIXED - 4.5%]
• At 8:00 AM ET: CoreLogic House Price Index for December.
• At 10:00 AM: the ISM non-Manufacturing Index for January.