From Matthew Graham at Mortgage News Daily: Boring Day For Mortgage Rates, But That’s a Good ThingMortgage rates moved down to the lowest levels in roughly 2 months last week. … “Low” is relative, of course. Before September, today’s rates would have been depressingly high, but they represent significant progress from October’s multi-decade highs of over 8% for conventional 30yr fixed rates. For the same scenario, today’s rates are down 5/8ths of a percent from those peaks. [30 year fixed 7.38%]
• At 8:30 AM ET, Chicago Fed National Activity Index for October. This is a composite index of other data.
• At 10:00 AM, Existing Home Sales for October from the National Association of Realtors (NAR). The consensus is for 3.93 million SAAR, down from 3.96 million in September.
• At 2:00 PM, FOMC Minutes, Meeting of October 31-November 1