Mortgage rates are unchanged today.
It looks to be a fairly slow week for new economic data until Thursday and Friday which bring the weekly jobless claims, the Producer Price Index, the Consumer Price Index, and Retails Sales among others.
In addition, The US Treasury will be auctioning $66 billion in notes this week starting with $32 billion in 3-year notes today. We expect these auctions to be met with strong demand so they are not a threat to mortgage rates.
The interest rate markets remain keyed in on the Fed and to what extent they’ll engage in further quantitative easing to help stimulate the economy. Speaking of the Fed they will release the minutes from the Sept 21 monetary policy meeting. This release typically does not drive the markets but the markets are typically not speculating on Fed action to the extent they currently are.
Current outlook: floating