by Calculated Risk on 8/30/2021 08:30:00 PM
From Matthew Graham at Mortgage News Daily: Mortgage Rates Fall Back to 3 week Lows
Specifically, the labor market needs to show that it can weather the various storm cycles of the pandemic. To that end, there are several upcoming reports that can offer some clarity with this Friday’s jobs report being the most important. In other words, even if the Fed doesn’t have anything new to say this week, an exceptionally strong jobs report could easily push rates back up. [30 year fixed 2.91%]
o At 9:00 AM ET, S&P/Case-Shiller House Price Index for June. The consensus is for a 18.6% year-over-year increase in the Comp 20 index for June.
o Also at 9:00 AM, FHFA House Price Index for June. This was originally a GSE only repeat sales, however there is also an expanded index.
o At 9:45 AM, Chicago Purchasing Managers Index for August.