From Matthew Graham at Mortgage News Daily: Rates Head Back Toward Long Term Lows
Mortgage rates fell today, bringing them back in line with the lowest levels in more than 2 months and very near the best levels since late April 2015. … The average lender is easily back into the “high 3’s” when it comes to conventional 30yr fixed quotes for top tier scenarios. The only question is whether that means 3.75% or 3.875%. With today’s improvements, quite a few lenders moved back down to to 3.75%. They don’t necessarily represent a majority just yet, but it’s getting to be a closer call.
Thursday:
• At 8:30 AM, the initial weekly unemployment claims report will be released. The consensus is for 275 thousand initial claims, down from 284 thousand the previous week.
• At 10:00 AM, the Philly Fed manufacturing survey for January. The consensus is for a reading of -4.0, up from -5.9.