by Calculated Risk on 3/11/2020 07:30:00 PM
Wednesday, March 11, 2020
From Matthew Graham at Mortgage News Daily: Mortgage Rates Rising at Fastest Pace in Years
Mortgage rates continued a relentless surge higher today. The move began in earnest yesterday for two key reasons: bond market panic and mortgage market over-supply. If you take nothing else away from the following, the important part to understand is that rates are absolutely significantly higher than they were this morning, yesterday, and on Monday morning. The pace of that move has been the fastest since the 2 days following the 2016 presidential election, and one of only a handful of 2-day periods with more than a 3/8ths bump to the conventional 30yr fixed rate. [Most Prevalent Rates For Top Tier Scenarios 30YR FIXED - 3.5-3.625%]Thursday:
• At 8:30 AM ET, The initial weekly unemployment claims report will be released. The consensus is for 215 thousand initial claims, down from 216 thousand the previous week.
• At 8:30 AM, The Producer Price Index for February from the BLS. The consensus is for a 0.1% decrease in PPI, and a 0.2% increase in core PPI.
• At 12:00 PM, Q4 Flow of Funds Accounts of the United States from the Federal Reserve.
Posted by Calculated Risk on 3/11/2020 07:30:00 PM