From Matthew Graham at Mortgage News Daily: Mortgage Rates Hit All-Time Lows, Is It Time To Lock?
Mortgage rates officially hit all-time lows this morning. Even so, it continues to be the case that Treasury yields (often referred to as the basis for mortgage rates) are falling much faster. That’s because Treasuries aren’t actually the basis for mortgage rates. They’re simply a very important source of guidance and momentum in the bigger picture for all kinds of rates. I’ve written on this extensively in recent days. [Most Prevalent Rates For Top Tier Scenarios 30YR FIXED – 3.125-3.25%]
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Tuesday:
• All day, Light vehicle sales for February. The consensus is for light vehicle sales to be 16.8 million SAAR in February, unchanged from 16.8 million in January (Seasonally Adjusted Annual Rate).
• 10:00 AM ET, Corelogic House Price index for January.