Mortgage rates are unchanged this morning.
The economic calendar is booked full this week with some of the most important data points coming tomorrow (retail sales & producer price index).
The rally in the bond market, which has pushed mortgage rates to 7-month lows, is 9-weeks old today. If this weeks economic calendar brings more signs of weakness we may see rates move even lower. However, if we see any glimmer of hope in the data I wouldn’t be surprised to see rates move higher since the technical trading patterns are negative.
I will shift my outlook to neutral headed into a busy economic week.
Current Outlook: neutral