by calculated risk 2024/9/30 7:11:00 PM
From Matthew Graham of Mortgage News Daily: Mortgage interest rates have risen slightly since the beginning of the week.
Mortgage rates have generally been on the rise since the Fed cut rates two weeks ago. …While today’s weakness cannot be attributed to a single factor, the main motivation was Fed Chairman Powell’s speech reminding the market that the Fed is in no hurry to cut rates. The message wasn’t much different from the press conference after the Fed rate cut two weeks ago, but some market participants were probably hoping for a softer side from Powell. (Fixed for 30 years 6.24%)
Emphasis added
Tuesday:
• 10 a.m. ET; Recruitment/turnover rate survey From BLS in August.
• Also at 10 a.m. ISM Manufacturing Index For September. The consensus was 47.6, up from 47.2 in August.
• Also at 10 a.m. construction expenditure For August. The consensus is for a rise of 0.1%.
• all day long, light car sales For September. Consensus is for sales of SAAR 15.7 million, up from SAAR 15.1 million (seasonally adjusted annual rate) in August.
