What’s Ahead For Mortgage Rates This Week – April 22, 2013

Apr 22, 2013

What's Ahead For Mortgage Rates This Week April 21 2013
Last week mortgage rates remained basically unchanged.  During he last two weeks the bond and mortgage markets have stayed in a narrow range. The 10 yr Treasury note, driver for mortgage rates, has been confined in a 6 bp range from 1.75% to 1.69%. The note has been unable to break strong resistance at 1.69% resulting in mortgage rates remaining about unchanged since early April. Interest rate markets are driven these days by each move in the key stock indexes; that market has experienced increased volatility but interest rates haven’t shown much change, remaining in their tight ranges. This week 170 of the S&P 500 will report earnings, Q2 earnings so far have shown a mixed picture, some good others not meeting expectations. Expect continued high volatility in the equity markets this week. If the 10 yr note exceeds 1.75% on a closing basis, interest rates will likely edge higher

Whats Coming Up Next

Date Time (ET) Statistic For Market Expects
04/22/13 10:00:00 AM Existing Home Sales Mar 5.01M
04/23/13 09:00:00 AM FHFA Housing Price Index Feb NA
04/23/13 10:00:00 AM New Home Sales Mar 415K
04/24/13 08:30:00 AM Durable Orders Mar -3.10%
04/25/13 08:30:00 AM Initial Claims 04/20/13 351K
04/26/13 08:30:00 AM GDP-Adv. Q1 2.80%
04/26/13 08:30:00 AM Chain Deflator-Adv. Q1 1.60%
04/26/13 09:55:00 AM Michigan Sentiment – Final Apr 72.4

 

This week the bond and mortgage markets will likely be slightly weaker resulting in slightly higher mortgage rages.

 

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