by Calculated Risk on 1/04/2022 12:03:00 AM

From Matthew Graham at Mortgage News Daily: Mortgage Rates Now Highest in 9 Months

The year is not off to a great start for mortgage rates. At the end of last week, we were already looking at the highest levels in months. The silver lining was that the past few months had seen a very narrow range with rates finally just barely breaking the previous highs. In other words, "highest in months" was a bit of a technicality. ... It's still the case that the "highest rates in 9 months" aren't insanely higher than anything we saw last week. From the lowest rates over the past 2 months, today's are roughly a quarter of a point higher. [30 year fixed 3.29%]
emphasis added

Tuesday:
• At 8:00 AM ET, Corelogic House Price index for November.

• At 10:00 AM, Job Openings and Labor Turnover Survey for October from the BLS.

• Also, at 10:00 AM, ISM Manufacturing Index for December. The consensus is for the ISM to be at 60.2, down from 61.1 in November.

• All day, Light vehicle sales for December. Sales were at 12.86 million in November (Seasonally Adjusted Annual Rate).  Wards Auto is projecting sales of 12.7 million SAAR in December.