by calculated risk September 30, 2024 07:11:00 PM
Matthew Graham of Mortgage News Daily writes: Mortgage rates will be slightly higher starting this week.
Mortgage rates have generally been on the rise since the Federal Reserve cut rates two weeks ago. … While today’s weakness cannot be reduced to just one factor, the main motivator was Fed Chairman Powell’s speech, which reminded markets that the Fed is in no rush to cut interest rates. The message wasn’t much different from the press conference following the Fed’s interest rate cut two weeks ago, but some market participants were probably hoping for some easing from Powell. [30 year fixed 6.24%]
Emphasis added
tuesday:
• 10 a.m. ET; Job postings and personnel turnover surveys BLS August.
• Also at 10 a.m. ISM Manufacturing Index In September. The consensus is expected to be 47.6, up from 47.2 in August.
• Also at 10 a.m. construction cost For August. The consensus is for an increase of 0.1%.
• All day, light car sales In September. The consensus is for sales of SAAR 15.7 million, up from SAAR 15.1 million seasonally adjusted annual rate (SAAR) in August.
