by calculated risk 10/07/2024 07:17:00 PM
From Matthew Graham of Mortgage News Daily: Highest mortgage rates in the last 2 months
The past few weeks have been strange and frustrating for those who mistakenly believed mortgage rates would fall after the Fed cut rates. … In short, the market has been caught up in the belief that the data will gradually get worse (emphasis has been placed on the last few jobs reports), and that after all, the latest jobs report is “not so fast!” I just saw it said. There’s a bit of a reset going on right now. We won’t know exactly how big it will be until we get more economic data. (Fixed for 30 years 6.62%)
Emphasis added
Tuesday:
• 6 a.m. ET, NFIB. Small Business Optimism Index For September.
• At 8:30 a.m.; trade balance report August from the Census Bureau. The consensus forecasts the deficit to be $71.4 billion in August, up from $78.8 billion in July.
