What’s Ahead For Mortgage Rates This Week – July 8, 2013

Jul 8, 2013

What's Ahead For Mortgage Rates This Week July 8 2013

Financial markets remain extremely volatile, a trend that is expected to continue.  Last week mortgage rates were significantly higher than those the at the close of the week prior.

The most meaningful economic reports of the week will be on the last two days of the week with Jobless Claims on Thursday and Consumer Sentiment on Friday.  Also of importance this week are the Treasury auctions with this week’s cycle being the more relevant 3, 10, and 30yr terms.  That gives Tuesday a bit more bite, at least in the afternoon (because without the 3yr auction,

Date

Time (ET)

Statistic

For

Market Expects

Prior

07/08/13

03:00:00 PM

Consumer Credit

May

$13.2B

$11.1B

07/09/13

01:15:00 PM

3-year Treasury Note Auction

07/10/13

01:15:00 PM

10-year Treasury Note Auction

07/10/13

02:00:00 PM

FOMC Minutes

06/19/13

07/11/13

08:30:00 AM

Initial Claims

07/06/13

345K

343K

07/11/13

01:15:00 PM

30-year Treasury Bond Auction

07/12/13

08:30:00 AM

PPI

Jun

0.30%

0.50%

07/12/13

08:30:00 AM

Core PPI

Jun

0.10%

0.10%

07/12/13

09:55:00 AM

Mich Sentiment

Jul

84.8

84.1

Mortgage rates remain at historically low levels but are continuing to rise.  Now is a great time to consider purchasing a home.

 

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