From Matthew Graham at Mortgage News Daily: Mortgage Rates Edge Higher



Mortgage rates fell to their lowest levels since late May as of last Friday. Today, then, would be the 2nd best day since late May. Rates edged slightly higher to begin the new week as bond markets (which underlie rates) came under modest pressure for several relatively inconsequential reasons. [30YR FIXED - 4.625% - 4.75%]

emphasis added

Tuesday:• At 9:15 AM ET, The Fed will releasefor June. The consensus is for a 0.6% increase in Industrial Production, and for Capacity Utilization to increase to 78.3%.• At 10:00 AM, The July. The consensus is for a reading of 69, up from 68 in June. Any number above 50 indicates that more builders view sales conditions as good than poor.• At 10:00 AM,, Before the Committee on Banking, Housing, and Urban Affairs, U.S. Senate