Wednesday: Housing Starts, Beige Book

Mortgage RatesFrom Matthew Graham at Mortgage News Daily: Fighting For Survival or Accepting Fate

For traders who believe the Fed’s restrictive policies will eventually drive growth and inflation lower, it’s hard to make a case for longer-term yields going much above 4%, even with core inflation over 6%. If you ask traders, the actual outlook for inflation over the next 10 years is close to the Fed’s target range. … [30 year fixed 7.15%]
emphasis added

• At 7:00 AM ET, The Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index.

• At 8:30 AM, Housing Starts for September. The consensus is for 1.478 million SAAR, down from 1.575 million SAAR.

• During the day, The AIA’s Architecture Billings Index for September (a leading indicator for commercial real estate).

• At 2:00 PM, the Federal Reserve Beige Book, an informal review by the Federal Reserve Banks of current economic conditions in their Districts.