Monday, May 20, 2019

Tuesday: Existing Home Sales

by Calculated Risk on 5/20/2019 06:40:00 PM

From Matthew Graham at Mortgage News Daily: Mortgage Rates Mostly Hold Near Lows, But Things Could Change Tomorrow

Much of the credit for the recent drop in rates goes to the well-publicized trade tensions between the US and China. As the cycle of inflammatory headlines dies down, so too does the motivation for interest rates to remain as low as they have been. Granted, this is far from the only source of inspiration for interest rate movement, but it has probably been the biggest motivation over the past 2 weeks. [30YR FIXED - 4.0% - 4.125%]
emphasis added
Tuesday:
• At 10:00 AM ET, Existing Home Sales for April from the National Association of Realtors (NAR). The consensus is for 5.36 million SAAR, up from 5.21 million. Housing economist Tom Lawler expects the NAR to report sales of 5.31 million SAAR for April.