Tuesday: Auto Sales

by Bill McBride on 5/01/2017 06:44:00 PM

From Matthew Graham at Mortgage News Daily: Mortgage Rates Unchanged to Slightly Higher

Mortgage rates were unchanged to slightly higher today, keeping them in line with the previous 4 business days. This 5-day block stands out from the previous trend that had taken rates generally lower since the middle of March, ultimately hitting the best levels of the year on April 18th. At the time, a majority of lenders were quoting conventional 30yr fixed rates of 4.00% on top tier scenarios.
While there are still several lenders at 4.0%, most have moved up to 4.125%. Most borrowers will be quoted the same NOTE rate today and Friday, but with higher upfront costs (thus making for a higher EFFECTIVE rate).
emphasis added

Tuesday:
• All day: Light vehicle sales for April. The consensus is for light vehicle sales to increase to 17.2 million SAAR in April, from 16.6 million in March (Seasonally Adjusted Annual Rate).

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