Tuesday: New Home Sales, Case-Shiller House Prices, Fed Chair Powell Speech
From Matthew Graham at Mortgage News Daily: Rates Catch a Break to Remain Near Long-Term Lows
Mortgage rates were generally flat today, depending on the lender. Some were noticeably better while others were a hair worse. In both cases, rates are very close to the lowest levels since late 2016. Changes from Friday would most likely be measured in terms of upfront costs as opposed to differences in the quoted "note rate" itself (the rate most people are talking about when they talk about mortgage rates). [Most Prevalent Rates 30YR FIXED - 3.625% OR 3.875%]Tuesday:
• At 9:00 AM: S&P/Case-Shiller House Price Index for April. The consensus is for a 2.5% year-over-year increase in the Comp 20 index for April.
• At 9:00 AM: FHFA House Price Index for April 2019. This was originally a GSE only repeat sales, however there is also an expanded index.
• At 10:00 AM: New Home Sales for May from the Census Bureau. The consensus is for 680 thousand SAAR, up from 673 thousand in April.
• At 10:00 AM: Richmond Fed Survey of Manufacturing Activity for June.
• At 1:00 PM: Speech by Fed Chair Jerome H. Powell, Economic Outlook and Monetary Policy Review, At C. Peter McColough Series on International Economics: A Conversation with Jerome H. Powell, New York, N.Y.