From Matthew Graham at Mortgage News Daily: Mortgage Rate Winning Streak Finally Pauses, But Just Barely
Mortgage rates hit their best levels in more than a month by the end of last week after moving lower for 4 straight days. If you could only know one thing about today, it’s that although rates didn’t extend their winning streak, they are still very close to Friday’s levels–close enough that the typical borrower wouldn’t care or notice.
…
[A]ll eyes are on CPI tomorrow. If it comes in much higher or lower than expected, rates will likely react in a major way. [30 year fixed 6.87%]
emphasis added
Tuesday:
• At 6:00 AM ET, NFIB Small Business Optimism Index for February.
• At 8:30 AM, The Consumer Price Index for February from the BLS. The consensus is for a 0.4% increase in CPI, and a 0.3% increase in core CPI. The consensus is for CPI to be up 3.1% Year-over-year (YoY), and core CPI to be up 3.7% YoY.