From Matthew Graham at Mortgage News Daily: Mortgage Rates Suddenly Near 1-Month HighsAfter bottoming out at the lowest levels in months in the first week of April, mortgage rates have been rising fairly quickly. As of this afternoon, you’d have to go back nearly a month to see a higher 30yr fixed rate from the average lender.
In the slightly bigger picture, this leaves us slightly higher than the middle of 2023’s range marked by lows near 6% in early February and highs just over 7% in early March. [30 year fixed 6.61%]
• At 8:30 AM ET, Housing Starts for March. The consensus is for 1.400 million SAAR, down from 1.450 million SAAR in February.