In case you missed it: Cash buyers are having a moment.

A Slow Week Heading into the New Year.

As I'm sure you all know, today is "Christmas" (as far as the federal calendar is concerned,) and so just about everything, including markets, are closed. That's not stopping butterknife, though, so let's get right to it!

THE WEEK AHEAD

THE WEEK AHEAD IN NEWS

Tomorrow (Tuesday) brings with it the monthly release of the two major home price indices, courtesy of the FHFA and CoreLogic, containing October's sales data. Despite most analysts expecting a year-over-year increase, both indices have been in decline for three months, and Pantheon Macroeconomics' Ian Shepherdson, among others, thinks we still have further to fall.

On Wednesday, we'll see the MBA's weekly refinance index, which has been on a small upswing as of late. That being said, the index remains near historic lows, given that six out of seven homeowners are locked in at interest rates below the current average.

On Thursday, some supplementary unemployment data courtesy of the BLS, broken down by state and metro area.

On Friday, no major economic news releases

ALL EYES ON RATES

At market close on Friday, December 23, 2022 the average mortgage interest rate for a conventional, 30-yr fixed, was:

• 6.32% (according to Mortgage News Daily)

• 6.27% (according to Freddie Mac)

• 6.34% (according to the MBA)

Expect all eyes to stay on the Fed heading into the new year.

WOULD YOU DO US A SOLID?

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As always, have a great week, and see you tomorrow!