Mortgage rates continued higher to start the week, following a relatively sharp increase on Friday. … This brings the average lender to the highest levels seen since before the Fed’s rate-friendly announcement back on March 20th. [30YR FIXED – 4.25%]
• At 9:15 AM, The Fed will release Industrial Production and Capacity Utilization for March. The consensus is for a 0.3% increase in Industrial Production, and for Capacity Utilization to increase to 79.2%.
• At 10:00 AM, The April NAHB homebuilder survey. The consensus is for a reading of 63, up from 62. Any number above 50 indicates that more builders view sales conditions as good than poor.