by Calculated Risk on 9/07/2021 09:00:00 PM
From Matthew Graham at Mortgage News Daily: Mortgage Rates Begin The Week Slightly Higher
Mortgage rates moved slightly higher to begin the holiday-shortened week. … The damage is minimal in the bigger picture. On average, lenders are quoting the same rates seen last week, but with slightly higher closing costs today. Most of the weakness in the underlying bond market is centered on US Treasuries as opposed to the mortgage-backed securities (MBS) that serve as the foundation for mortgage rates. The Treasury-specific weakness is likely due to the presence of several big Treasury auctions this week in addition to heavy corporate bond issuance (which tends to hurt Treasuries more than MBS). [30 year fixed 2.97%]
o At 7:00 AM ET, The Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index.
o At 10:00 AM, Job Openings and Labor Turnover Survey for July from the BLS.
o At 2:00 PM, the Federal Reserve Beige Book, an informal review by the Federal Reserve Banks of current economic conditions in their Districts.