"Mortgage Rates Sideways to Slightly Higher"
From Matthew Graham at Mortgage News Daily: Mortgage Rates Sideways to Slightly Higher
Mortgage rates were unchanged to slightly higher today, keeping them in line with their highest levels in more than 2 weeks, depending on the lender [30YR FIXED - 4.0%]. Bond markets (which underlie mortgage rates) were in slightly better shape this morning, but that failed to translate to rate sheet improvements due to bond market weakness on Friday afternoon.Tuesday:
There were no significant economic reports or market moving headlines for bonds/rates today, but that will quickly change as the week progresses. Wednesday brings a key inflation report--the Consumer Price Index (CPI). Markets are also interested in any meaningful tax bill headlines, including the vote scheduled for the House version of the bill on Thursday.
• At 6:00 AM ET, NFIB Small Business Optimism Index for October.
• At 8:30 AM, The Producer Price Index for October from the BLS. The consensus is a 0.1% increase in PPI, and a 0.2% increase in core PPI.