On Wednesday, the Freddie Mac [1] will release its latest Primary Mortgage Market Survey.
In its last report [2], the survey noted that while mortgage rates very modestly rose to 4.41 percent last week, they remain below year-ago levels for the fourth week in a row. In late 2018, mortgage rates rose over a full percentage point from the prior year, which was one of the main reasons that weakness in home sales continued into early 2019. However, the impact of recent lower rates and a strong labor market has led to a rise in purchase mortgage demand as we start the spring homebuying season.
Here's what else is in store in the week ahead:
- Census Bureau New Home Sales, Monday 10:00 AM ET
- MBA Mortgage Applications, Wednesday, 7:00 AM ET
- NAR New Home Sales, 10:00 AM ET
- Construction Spending, Wednesday, 10:00 AM ET
- Fed Balance Sheet, Thursday, 4:30 PM ET
- Event Freddie Mac Primary Mortgage Market Survey, Thursday, 10 a.m.
- Census Bureau New Residential Sales report, Thursday, 10:00 AM ET