From Matthew Graham at Mortgage News Daily: Mortgage Rates Drop Modestly to Start The New YearFor now, the average lender is moving back down below the 6.5% threshold for top tier 30yr fixed rates, but just barely. That number was getting close to 6.0% in early December and was more than half a point higher as of last week. [30 year fixed 6.45%]
• At 7:00 AM ET, The Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index.
• 10:00 AM, Job Openings and Labor Turnover Survey for October from the BLS.
• At 10:00, ISM Manufacturing Index for December. The consensus is for the ISM to be at 48.5, down from 49.0 in November.
• At 2:00 PM: FOMC Minutes, Meeting of December 13-14, 2022
• All day, Light vehicle sales for December. The Wards forecast is for 13.0 million SAAR in December, down from the BEA estimate of 14.1 million SAAR in November (Seasonally Adjusted Annual Rate).