the biggest day of the week in terms of economic reports.
Mortgage bonds seem to be drifting sideways as they continue to trade
in a range between their 30-day and 100-day moving averages. So far, we've had
new construction numbers which came in slightly weaker than market
There are also a few manufacturing reports scheduled
for release later this morning. The Fed is scheduled to purchase up
to $1.625 billion of 30-year conventional mortgage bonds later this
What should you do
about it? Watch for mortgage bonds to improve from these levels, but be prepared
to lock your rate if the market changes directions.
reports that may impact mortgage rates this week: