by Calculated Risk on 1/28/2019 06:52:00 PM

Note: The BEA has announced that the Q4 GDP report, along with the Personal Income and Outlays and Trade reports, will not be released this week as scheduled. A new schedule will be published soon.

From Matthew Graham at Mortgage News Daily: Mortgage Rates Unchanged at Start of Hectic Week

Mortgage rates didn't move at all today, on average, but that's likely to change throughout the course of the week--possibly several times. Interest rates are driven by bond market trading which, in turn, takes its cues from all manner of inputs. Two of the biggest inputs are economic data and the Federal Reserve (aka "The Fed"). There is plenty to consider on both accounts in the coming days.

The Fed will release one of its periodic policy announcements on Wednesday. No one expects them to raise rates at this meeting, but there are broad-based expectations for the verbiage of the Fed's statement to soften (i.e. to become more friendly toward rates and financial markets in general). Traders are already betting on some softening (which is helping rates stay lower than they otherwise might be over the past few trading days), but there's still plenty of room left for surprises. [30YR FIXED - 4.5%]
emphasis added

Tuesday:
• At 9:00 AM ET: S&P/Case-Shiller House Price Index for November. The consensus is for a 4.9% year-over-year increase in the Comp 20 index for November.

• At 10:00 AM: POSTPONED the Q4 2018 Housing Vacancies and Homeownership from the Census Bureau.