Wednesday: PPI

From Matthew Graham at Mortgage News Daily: Worst 2 Days For Rates Since June


Mortgage rates continued higher at a reasonably abrupt pace today as last week's themes have been completely reversed.  What themes are those?  Generally speaking, markets were undergoing a risk-aversion trade given the rising geopolitical tension surrounding North Korea and the economic uncertainty associated with back-to-back hurricanes.  ...

In the bigger picture, the damage is still far from severe.  The best 30yr fixed scenarios are still under 4% for many lenders.  But the past 2 days have constituted the most abrupt move higher in rates since at least late June, 2017. [3.875% fixed on top tier scenarios].
emphasis added
Wednesday:
• At 7:00 AM ET, The Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index.

• At 8:30 AM, The Producer Price Index for August from the BLS. The consensus is a 0.3% increase in PPI, and a 0.2% increase in core PPI.

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