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Monday, April 22, 2024

Tuesday: New Home Sales

by Calculated Risk on 4/22/2024 08:08:00 PM

Mortgage Rates From Matthew Graham at Mortgage News Daily: Mortgage Rates Essentially Flat Just Under 5 Month Highs

Mortgage rates began the new week at almost exactly the same levels seen at the end of last week. There were no major events or economic reports to cause volatility in the underlying bond market, but bonds were able to improve modestly by the end of the day.
By staying near Friday's levels, the average lender is just shy of the highest rates in 5 months. A top tier conventional 30yr fixed scenario is still in the mid 7% range. [30 year fixed 7.43%]
emphasis added
• At 10:00 AM ET, New Home Sales for March from the Census Bureau. The consensus is for 670 thousand SAAR, up from 662 thousand in February.

• Also at 10:00 AM, Richmond Fed Survey of Manufacturing Activity for April.