From Matthew Graham at Mortgage News Daily: Rates Relieving Some Pressure After Last Week’s Highs
Mortgage rates hit fresh multi-decade highs last week with many lenders hitting the mid-7% range earlier in the week for top tier conventional 30yr fixed scenarios. There was some immediate relief on Wednesday, but things have been broadly sideways since then. …
There are several economic reports that have a strong track record of causing volatility for rates–at least one on each of the remaining days this week. [30 year fixed 7.29%]
emphasis added
Tuesday:
• At 9:00 AM ET, S&P/Case-Shiller House Price Index for June. The consensus is for a 1.1% year-over-year decrease in the Comp 20 index for June.
• Also at 9:00 AM, FHFA House Price Index for June. This was originally a GSE only repeat sales, however there is also an expanded index.
• At 10:00 AM, Job Openings and Labor Turnover Survey for July from the BLS.