by calculated risk 11/04/2024 06:38:00 PM
From Matthew Graham of Mortgage News Daily: Election swings work both ways, with mortgage rates slightly lower since the start of the week.
Like it or not, election-related fluctuations are having a big impact on bond markets and, by extension, mortgage rates.
…
Mortgage rates did not react dramatically, but the average lender retreated towards 7% in the traditional top-end 30-year fixed scenario. The same scenario approached 7.125% late last week. (Fixed for 30 years 7.05%)
Emphasis added
Tuesday:
• us election
• 8:30 a.m. ET; trade balance report September from the Census Bureau. The consensus is that September’s deficit will be $73.5 billion, up from August’s $70.4 billion.
• At 10 a.m. ISM Service Index For October. The consensus is a decline from 54.9 to 53.3.
