Mortgage rates have been falling so much and with such regularity in 2020 that there’s scarcely been a reason (or even an opportunity) to talk about anything else. Now suddenly, we have 2 straight business days with the average lender’s rates getting modestly worse. Is this the beginning of the end?
Maybe… Probably not, but that’s not the point. The point I will continue to make about this record-breaking run into the lowest rate range ever is that it will come to an end at some point. [Top Tier Scenarios 30YR FIXED: 2.92%]
• At 9:00 AM ET, S&P/Case-Shiller House Price Index for May. The consensus is for a 4.0% year-over-year increase in the Comp 20 index for May.
• At 10:00 AM, Richmond Fed Survey of Manufacturing Activity for July. This is the last of the regional surveys for July.
• At 10:00 AM, The Q2 2019 Housing Vacancies and Homeownership report from the Census Bureau.