From Matthew Graham at Mortgage News Daily: Mortgage Rates Catch Up To Last Week’s Market Movement (That’s a Good Thing)
Mortgage rates moved moderately lower today despite an absence of significant movement in the bond market. In general, when bonds improve, rates fall (and vice versa), but it’s not feasible for mortgage lenders to adjust their rates offerings in relative real-time as bonds can send massively mixed signals on any given day. [30 year fixed 3.18%]
• At 8:00 AM ET, Corelogic House Price index for September.
• At 10:00 AM, The Q3 Housing Vacancies and Homeownership report from the Census Bureau.
• All day, Light vehicle sales for October. The consensus is for sales of 12.4 million SAAR, up from 12.2 million SAAR in September (Seasonally Adjusted Annual Rate).