From Matthew Graham at Mortgage News Daily: Things Just Keep Getting Worse For Mortgage Rates
Mortgage rates surged higher today, moving easily to new 4-year highs. Today’s average conventional 30yr fixed rate is roughly one eighth of a percentage point higher than Wednesday of last week and more than half a point higher than the best rates seen in January. [30YR FIXED – 4.625%]
emphasis added
Thursday:
• At 8:30 AM ET, The initial weekly unemployment claims report will be released. The consensus is for 229 thousand initial claims, up from 221 thousand the previous week.
• Also at 8:30 AM, the Philly Fed manufacturing survey for February. The consensus is for a reading of 21.5, down from 22.2.
• Also at 8:30 AM, The Producer Price Index for January from the BLS. The consensus is a 0.4% increase in PPI, and a 0.2% increase in core PPI.
• Also at 8:30 AM, The New York Fed Empire State manufacturing survey for February. The consensus is for a reading of 17.5, down from 17.7.
• At 9:15 AM, The Fed will release Industrial Production and Capacity Utilization for January. The consensus is for a 0.2% increase in Industrial Production, and for Capacity Utilization to increase to 78.0%.
• At 10:00 AM, The February NAHB homebuilder survey. The consensus is for a reading of 72, unchanged from 72 in January. Any number above 50 indicates that more builders view sales conditions as good than poor.