• At 9:00 AM ET: NFIB Small Business Optimism Index for July.
• 10:00 AM: Monthly Wholesale Trade: Sales and Inventories for June. The consensus is for no change in inventories.
• 11:00 AM: The New York Fed will release their Q2 2016 Household Debt and Credit Report
From Matthew Graham at Mortgage News Daily: Mortgage Rates Threatening to Break Post-Brexit Range
Mortgage rates continued higher today, extending a sharp move that began on Friday following stronger-than-expected employment data. There are two distinctly different ways to look at the current rate environment. On the one hand, the average conventional 30yr fixed rate continues hovering in the mid 3’s on top tier scenarios. While that’s not quite as low as it was in early July, or on some occasions in 2012-2013, it’s still in the territory of “all-time lows” in the big picture.
On the other hand, current rates are near the highest levels in just over a month. This means they’re ‘threatening’–for lack of a better term–to break out of the low range that followed The UK’s vote to leave the EU (Brexit).
Here is a table from Mortgage News Daily: