by Calculated Risk on 3/24/2025 07:34:00 PM

From Matthew Graham at Mortgage News Daily: Mortgage Rates Slightly Higher to Start New Week

The average mortgage lender raised rates modestly on Monday morning--a logical move considering the weakness in the bond market over the weekend. Rates are based directly on bonds. Bond "weakness" means investors are paying less for bonds which, in turn, means that yields (aka "rates") are effectively higher.
...
In the bigger picture, all of this analysis is much ado about nothing. Mortgage rates continue a very flat, narrow orbit around 6.75% for top tier conventional 30yr fixed scenarios. A bigger departure from this range will require a bigger shift in several key economic reports (specifically, inflation reports and the big jobs report that typically comes out on the first Friday of the month). [30 year fixed 6.77%]
emphasis added

Tuesday:
• At 9:00 AM ET, S&P/Case-Shiller House Price Index for January. The consensus is for a 4.6% year-over-year increase in the 20-city index for January, up from 4.5% YoY in December.

• Also at 9:00 AM, FHFA House Price Index for January. This was originally a GSE only repeat sales, however there is also an expanded index.

• At 10:00 AM, New Home Sales for February from the Census Bureau. The consensus is for 680 thousand SAAR, up from 657 thousand in January.

• Also at 10:00 AM, Richmond Fed Survey of Manufacturing Activity for March.

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