From Matthew Graham at Mortgage News Daily: Mortgage Rates Slightly Higher Over The WeekendMortgage rates are starting out the new week at modestly higher levels compared to last Friday afternoon. The average change is very small. Many borrowers would see no difference in today’s rate quotes. A few lenders are marginally improved from Friday, but they generally hadn’t improved as much as other lenders on Friday itself.
Top tier conventional 30yr fixed scenarios are still over 7% either way. … Thursday’s release of the Consumer Price Index (CPI) is this week’s highest risk/reward event. [30 year fixed 7.06%]
• At 8:30 AM ET, Trade Balance report for June from the Census Bureau. The consensus is the trade deficit to be $65.7 billion. The U.S. trade deficit was at $69.0 Billion the previous month.
• At 11:00 AM, NY Fed: Q2 Quarterly Report on Household Debt and Credit