From Matthew Graham at Mortgage News Daily: Mortgage Rates Steady-to-Higher as Busy Week Begins
Mortgage rates were either flat or slightly higher, depending on the lender today. [30 Year fixed at 3.875% to 4.00%].
…
Keep in mind that we’re talking about extraordinarily small variations in loan pricing. Few, if any borrowers would see a change in the actual interest rate quote applied to their prospective loan balance. Rather, the weakness would only be seen in the form of slightly higher upfront costs for the same rates quoted today and late last week (which are still among the lowest of 2017).True volatility could show up later in the week as the calendar of events gets crowded. There are several important economic reports in the mornings. In particular, Wednesday has a potent combination of economic data in the morning and the Fed Announcement in the afternoon. While a rate hike from the Fed is a foregone conclusion, markets can still react forcefully to any changes in the Fed’s rate hike outlook.
emphasis added
Tuesday:
• At 6:00 AM ET: NFIB Small Business Optimism Index for May.
• At 8:30 AM, The Producer Price Index for May from the BLS. The consensus is for 0.1% increase in PPI, and a 0.2% increase in core PPI.