Mortgage rates held their ground today, with the average lender in roughly the same shape as they were on Friday. Incidentally, that’s great shape! When it comes to the best-case scenario conventional 30yr fixed quote, rates are still very close to the all-time lows seen two weeks ago. [30YR FIXED – 3.00%]
• At 10:00 AM, New Home Sales for May from the Census Bureau. The consensus is for 640 thousand SAAR, up from 623 thousand in April. Note that new home sales are reported when a contract is signed, so we should see a rebound in sales in May (unlike existing home sales).
• Also at 10:00 AM, Richmond Fed Survey of Manufacturing Activity for June.