Wednesday: Richmond Fed Mfg Survey

From Matthew Graham at Mortgage News Daily: Mortgage Rates Are Great, But They Could Be Greater

The world of mortgage rate analysis is both simple and complicated. On a simple note, rates are near long-term lows and they'll generally continue to follow the broader market for interest rates (which is largely based on US Treasuries, domestically). …

The biggest issue--and the one that's most difficult to explain in simple terms--is that mortgages have not been doing a good job of keeping pace with Treasury yields lately.  [30YR FIXED - 4.0% - 4.125%]
emphasis added

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

• At 10:00 AM, Richmond Fed Survey of Manufacturing Activity for May. This is the last of regional manufacturing surveys for May.

from Calculated Risk http://bit.ly/2WbUwIi
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