From Matthew Graham at Mortgage News Daily: MBS RECAP: Slow Monday, But Late Warning Shots
It was a slow trading day for the most part until the last 90 minutes. … As the day wound down, yields bumped up to the highs–right in line with the 1.295% technical level–and MBS coughed up a quick eighth of a point. That was enough for several lenders to reprice for the worse even though the weakness doesn’t speak to any bigger picture issues. … [30 year fixed 2.86%]
• At 9:00 AM ET, S&P/Case-Shiller House Price Index for May. The consensus is for a 16.3% year-over-year increase in the Comp 20 index for May.
• Also at 9:00 AM, FHFA House Price Index for May. This was originally a GSE only repeat sales, however there is also an expanded index.
• At 10:00 AM: Richmond Fed Survey of Manufacturing Activity for July. This is the last of the regional surveys for July.
• Also at 10:00 AM, The Q2 Housing Vacancies and Homeownership report from the Census Bureau.