From Matthew Graham at Mortgage News Daily: Mortgage Rates Up To 3-Week Highs
Mortgage rates rose today, resuming an upward trend that began last week after political turmoil in Italy began to die down. More simply put, rates had been rising in mid May. Italy’s political turmoil caused enough concern about the fate of the Eurozone that investors moved money into bonds, thus helping rates move lower. As risks subsided in Europe, rates have returned to similar levels as those seen in the first half of May. [30YR FIXED – 4.625%-4.75%]
emphasis added
Thursday:
• At 8:30 AM ET, The initial weekly unemployment claims report will be released. The consensus is for 225 thousand initial claims, up from 221 thousand the previous week.
• At 12:00 PM, Q1 Flow of Funds Accounts of the United States from the Federal Reserve.
• At 3:00 PM, Consumer Credit from the Federal Reserve. The consensus is for consumer credit to increase $13.5 billion in April.