Mortgage rates fell for the third day in a row--the first time that's happened so far in 2018! Much like last week was slightly less spectacular than its "best in 2018" designation, today also comes with caveats. Even though rates technically did fall for the third straight day, most of the day was spent with underlying bond markets moving into weaker territory. This resulted in several lenders raising rates in the middle of the day, leaving them roughly in line with Friday's latest offerings. [30YR FIXED - 4.625%]Tuesday:
emphasis added
• At 8:30 AM ET, Durable Goods Orders for January from the Census Bureau. The consensus is for a 0.2% decrease in durable goods orders.
• At 9:00 AM, S&P/Case-Shiller House Price Index for December. The consensus is for a 6.3% year-over-year increase in the Comp 20 index for December.
• At 9:00 AM, FHFA House Price Index for December 2017. This was originally a GSE only repeat sales, however there is also an expanded index.
• At 10:00 AM, Fed Chair Jerome Powell Testimony, Semiannual Monetary Policy Report to the Congress, Before the House Financial Services Committee, Washington, D.C.
• At 10:00 AM, Richmond Fed Survey of Manufacturing Activity for February. This is the last of the regional surveys for February.
from Calculated Risk http://ift.tt/2HOAwAH
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