From Matthew Graham at Mortgage News Daily: Mortgage Rates Roughly Unchanged After Mid-Day ImprovementsThe average lender was only 0.02% higher than Friday this morning, and the improvement brought them 0.01% lower than Friday. These moves are so small that many borrowers would not see any detectable different in mortgage quotes between today and Friday.
Volatility stands a better chance of increasing on Wednesday afternoon when we get the next rate announcement from the Fed. Even if the Fed doesn’t hike rates (and they probably won’t), other information released in conjunction with that decision can have a big impact. [30 year fixed 7.28%]
• At 8:30 AM ET, Housing Starts for August. The consensus is for 1.440 million SAAR, down from 1.452 million SAAR.
• At 10:00 AM, State Employment and Unemployment (Monthly) for August 2023