From Matthew Graham at Mortgage News Daily: Nice Calm Day For Rates, But Volatility Potential Increases From Here
From here, the next thing that makes great sense is for rates to follow the guidance of the incoming economic data first and foremost. Comments from the Federal Reserve will be a supporting actor until the March Fed meeting.
In other words, we have a Fed meeting coming up in 2 days and we DON’T expect there to be any major fireworks. This week’s only pyrotechnic potential comes in the form of several key economic reports in addition to the Treasury department’s update on its borrowing needs. [30 year fixed 6.88%]
emphasis added
Tuesday:
• At 9:00 AM ET, FHFA House Price Index for November. This was originally a GSE only repeat sales, however there is also an expanded index.
• Also at 9:00 AM, S&P/Case-Shiller House Price Index for November. The consensus is for a 5.8% year-over-year increase.
• At 10:00 AM, Job Openings and Labor Turnover Survey for December from the BLS.
• Also at 10:00 AM, The Q4 Housing Vacancies and Homeownership report from the Census Bureau.