From Matthew Graham at Mortgage News Daily: Mortgage Rates a Bit Lower to Begin The WeekMortgage 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.
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%]
• 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.