by Calculated Risk on 1/27/2025 07:17:00 PM

From Matthew Graham at Mortgage News Daily: Mortgage Rates Only Moderately Lower After Tech Rout

Even though there is some uncertainty about the near-term Fed rate outlook and even though we have a Fed meeting coming up on Wednesday, today was all about conventional wisdom for interest rates. Tech stocks plummeted on news of a cheap, competent, Chinese AI competitor. ...

Whether investors were simply looking for places to park the proceeds from that stock selling or legitimately betting on economic fallout, bond buying ramped up in a major way. The average mortgage lender is now back in line with the lowest levels since late December, but just barely. [30 year fixed 7.07%]
emphasis added

Tuesday:
• At 8:30 AM ET, Durable Goods Orders for December. The consensus is for a 0.8% increase in durable goods.

• Also at 9:00 AM, FHFA House Price Index for November. This was originally a GSE only repeat sales, however there is also an expanded index.

• At 9:00 AM, S&P/Case-Shiller House Price Index for November. The National Index was up 3.6% YoY in October and is expected to be up about the same in November.

• Also at 10:00 AM, Richmond Fed Survey of Manufacturing Activity for January. This is the last of the regional Fed manufacturing surveys for January.

• At 10:00 AM, State Employment and Unemployment (Monthly) for December 2024

Weekly Schedule