by Calculated Danger on 3/24/2025 07:34:00 PM
From Matthew Graham at Mortgage Information Day by day: Mortgage Charges Barely Increased to Begin New Week
The common mortgage lender raised charges modestly on Monday morning–a logical transfer contemplating the weak point within the bond market over the weekend. Charges are based mostly straight on bonds. Bond “weak point” means buyers are paying much less for bonds which, in flip, signifies that yields (aka “charges”) are successfully larger.
…
Within the larger image, all of this evaluation is way ado about nothing. Mortgage charges proceed a really flat, slim orbit round 6.75% for prime tier typical 30yr fastened eventualities. A much bigger departure from this vary would require a much bigger shift in a number of key financial reviews (particularly, inflation reviews and the massive jobs report that sometimes comes out on the primary Friday of the month). [30 year fixed 6.77%]
emphasis added
Tuesday:
• At 9:00 AM ET, S&P/Case-Shiller Home Value Index for January. The consensus is for a 4.6% year-over-year improve within the 20-city index for January, up from 4.5% YoY in December.
• Additionally at 9:00 AM, FHFA Home Value Index for January. This was initially a GSE solely repeat gross sales, nevertheless there may be additionally an expanded index.
• At 10:00 AM, New Residence Gross sales for February from the Census Bureau. The consensus is for 680 thousand SAAR, up from 657 thousand in January.
• Additionally at 10:00 AM, Richmond Fed Survey of Manufacturing Exercise for March.
