by Calculated Risk on 8/05/2024 07:00:00 PM
From Matthew Graham at Mortgage News Daily: Lowest Mortgage Rates in More Than a Year
As of Friday, the average top tier 30yr fixed mortgage rate was merely at the lowest levels of 2024. A modest additional drop this morning brought that number to the lowest level since April 2023.
…
In the big picture, rates have been moving consistently lower due to an ongoing bond market rally that began in May. That rally is driven by softer inflation/economic data and an increased willingness on the part of the Fed to consider rate cuts. [30 year fixed 6.81{3da602ca2e5ba97d747a870ebcce8c95d74f6ad8c291505a4dfd45401c18df38}]
emphasis added
Tuesday:
• At 8:30 AM ET, Trade Balance report for June from the Census Bureau. The consensus is the trade deficit to be $72.6 billion. The U.S. trade deficit was at $75.1 Billion the previous month.
• At 11:00 AM: NY Fed: Q2 Quarterly Report on Household Debt and Credit
