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Mortgage Market Update 7/25/2017
July 25th, 2017 4:18 PM

Here is the latest about today’s mortgage market.

 

Interest rates moved up this morning as the 10-year Treasury Yield rose to 2.32% from 2.25% yesterday.

After enjoying a nice rally of the lowest mortgage rates since July 10th, bond markets are taking the 2 days leading up to tomorrow's Fed announcement to book some profits and get back to neutral territory.  Unfortunately, getting back to neutral means "selling bonds" if the prevailing trend had been positive.

There are long and short positions.  Long positions mean "buying" in the hope that bond prices will rise and yields will fall. A falling yield (especially the 10-year Treasury yield) means a decrease in mortgage rates. A short position means selling in the hope that yields will rise. A rising yield means an increase in mortgage rates.

There are a few very important data to be released between today and Friday that will plan a big role in determining the direction mortgage rates will take in the next few weeks.

Tomorrow's Economic Calendar and Announcements

Time

Event

Period

Forecast

Prior

Tuesday, Jul 25

9:00

Monthly Home Price yy (%)

May

6.8

9:00

CaseShiller 20 yy (% )

May

5.8

5.7

10:00

Consumer confidence *

Jul

116.5

118.9

13:00

2-Yr Note Auction (bl)

26

 

 


Posted by Narbik Karamian on July 25th, 2017 4:18 PMPost a Comment

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