by Calculated Threat on 9/16/2024 07:01:00 PM
From Matthew Graham at Mortgage Information Day by day: Mortgage Charges Inch Decrease to Start Probably Wild Week
The new week started on a comparatively quiet notice by way of mortgage fee motion and the underlying bond market. … Merchants have rapidly shifted again to anticipating barely higher odds of a 0.50% fee reduce versus the minimal 0.25%. That is not even the vital a part of the announcement, nonetheless. Markets can be extra centered on the speed trajectory outlined within the Fed’s financial projections in addition to the steerage supplied within the textual content of the announcement and Fed Chair Powell’s press convention. … Any time an final result is assured to shock about half the market, it is just about unimaginable to keep away from volatility. [30 year fixed 6.12%]
emphasis added
Tuesday:
• At 8:30 AM ET, Retail gross sales for August can be launched.  The consensus is for a 0.2% improve in retail gross sales.
• At 9:15 AM, The Fed will launch Industrial Manufacturing and Capability Utilization for August. The consensus is for a 0.1% improve in Industrial Manufacturing, and for Capability Utilization to extend to 77.9%.
• At 10:00 AM, The September NAHB homebuilder survey. The consensus is for a studying of 40, up from 39 in August. Any quantity beneath 50 signifies that extra builders view gross sales circumstances as poor than good.
