Mortgage rates increased moderately to begin the new week/month and had been increasing in general during the previous week. The net effect is some lenders are quoting rates that are an eighth of a point higher compared to those seen at the beginning of last week, and an average rate quote that’s as high as it’s been in just over 2 weeks.
In the bigger picture, this amount of movement is fairly tame. [Most Prevalent Rates For Top Tier Scenarios 30YR FIXED 3.75%]emphasis added
• All day: Light vehicle sales for November. The consensus is for 16.8 million SAAR in November, up from the BEA estimate of 16.6 million SAAR in October 2019 (Seasonally Adjusted Annual Rate).
• At 10:00 AM, Corelogic House Price index for October.
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