by Calculated Risk on 7/08/2024 07:26:00 PM

From Matthew Graham at Mortgage News Daily: Mortgage Rates Gently Lower to Begin New Week

CPI has been the most important input for rates as far as economic reports are concerned. Thursday's is an exciting installment as it has a chance to confirm a promising shift seen in last month's data. If confirmed, rates should move easily into the 6's. [30 year fixed 7.01%]
emphasis added

Tuesday:
• At 6:00 AM ET, NFIB Small Business Optimism Index for June.

• At 10:00 AM, Testimony, Fed Chair Jerome Powell, Semiannual Monetary Policy Report to Congress, Before the U.S. Senate Committee on Banking, Housing, and Urban Affairs