From Matthew Graham at Mortgage News Daily: Mortgage Rates Officially Hit New Multi-Decade Highs
For the average lender, a top tier 30yr fixed rate is now over 7.5% for the first time in at least 22 years. The average borrower (not “top tier”) is seeing rates that are even higher. This assumes an adjustment for discount points. Many loans are being quoted with points currently, and in those cases, the note rate would be a bit lower. [30 year fixed 7.51%]
emphasis added
Tuesday:
• At 9:00 AM ET, S&P/Case-Shiller House Price Index for July. The consensus is for a 0.5% year-over-year increase in the National index for July.
• Also at 9:00 AM, FHFA House Price Index for July. This was originally a GSE only repeat sales, however there is also an expanded index.
• At 10:00 AM, New Home Sales for August from the Census Bureau. The consensus is for 700 thousand SAAR, down from 714 thousand in July.
• Also at 10:00 AM, the Richmond Fed manufacturing survey for September.