by Calculated Risk on 12/26/2023 07:30:00 PM

From Matthew Graham at Mortgage News Daily: Uncanny Absence of Volatility Continues For Mortgage Rates

After dropping precipitously from over 8% in late October to well under 7% by December 14th, mortgage rates have been stone silent. In the 7 business days that have followed, the average top tier 30yr fixed rate hasn't moved enough to impact the typical mortgage quote. Our index has drifted microscopically higher and lower, never moving more than 0.02% from one day to the next, and never more than 0.03% from the center of the range. [30 year fixed 6.67%]
emphasis added

Wednesday:
• At 10:00 AM ET, Richmond Fed Survey of Manufacturing Activity for December. This is the last of regional manufacturing surveys for December.

NOTE: No MBA mortgage survey this week.