Mortgage rates began the new week on a modestly positive note. The average lender is now quoting conventional 30yr fixed loans at a slightly lower rate than last Friday afternoon.Tuesday:
That said, the changes are modest, to say the least. Some borrowers won't see any detectable difference from last week's rates. Others might see an eighth of a percent lower at best.
Even in those best cases, rates remain much higher than they were to begin the month with the average lender moving up from 5.99% to 6.78% since February 2nd. [30 year fixed 6.78%]
emphasis added
• At 9:00 AM ET, FHFA House Price Index for December 2022. This was originally a GSE only repeat sales, however there is also an expanded index.
• Also, at 9:00 AM, S&P/Case-Shiller House Price Index for December. The consensus is for a 6.0% year-over-year increase in the Comp 20 index for December, down from 6.8% in November.
• At 10:00 AM, Richmond Fed Survey of Manufacturing Activity for February.
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