Mortgage rates moved higher for the 5th time in the past 6 business days. The past 2 days have combined to bring rates a full .125% higher. That's the increment by which rates are most commonly divided (i.e. 4.0, 4.125%, 4.25%, etc.). ... The average lender is once-again quoting 4.25% on top tier conventional 30yr fixed scenarios. This isn't the first time we've seen 4.25% this year, but closing costs are slightly higher today. That means effective rates are at 2017 highs. Several lenders are already up to 4.375% and a scant few remain at 4.125%.Thursday:
emphasis added
• At 8:30 AM ET, The initial weekly unemployment claims report will be released. The consensus is for 247 thousand initial claims, up from 234 thousand the previous week.
• Also at 8:30 AM, Chicago Fed National Activity Index for December. This is a composite index of other data.
• At 10:00 AM, New Home Sales for December from the Census Bureau. The consensus is for a decrease in sales to 590 thousand Seasonally Adjusted Annual Rate (SAAR) in December from 592 thousand in November.
• At 11:00 AM, the Kansas City Fed manufacturing survey for January.
4.25% gives the bank fat servicing margins.
ReplyDeleteThis is a test of the Emergency CR Comments System.
ReplyDeleteSebastian
The Coup Is Complete
ReplyDeleteOh yeah, "Anonymous" alright. ;)
ReplyDeleteWell, okay, being largely tech-ignorant, how did this happen that we're available to post here?
ReplyDeleteAnd BTW, rose-colored glasses and Wright Bros. airplane.
Sebastian
When Bill set up CR the comment system was automatically included. He merely edited out the links on the web page and manually pasted in the HCN link. The comments section still existed. All this time though he never changed the mobile page that was also created on set up. That's how we get here.
ReplyDeleteGreat! So we have the place to ourselves until everyone else figures it out?:)
ReplyDeleteSebastian