Updated on May 10, 2021 10:09:32 AM EDT
There is nothing scheduled for today that is expected to affect mortgage rates. The rest of the week has five monthly economic reports for the markets to digest in addition to a couple of Treasury auctions that we will be watching. A good portion of this weeks data is highly important to the financial and mortgage markets, meaning it may be an active week for rates- especially the latter days.
Tomorrow’s calendar is also empty of economic data. However, there are a batch of Fed member speaking engagements that will draw some attention. It is not likely the markets will have a significant reaction to any of them, but with little else to drive bond trading, it is possible for one of more of them to cause a slight change in rates.
Aprils Consumer Price Index (CPI) will start the important economic releases Wednesday morning, following by the Producer Price Index (PPI) Thursday and Retail Sales data Friday. There are also Treasury auctions Wednesday and Thursday that may have an impact on rates during early afternoon trading.
Wednesday is the best candidate for most active day for rates due to the importance of the CPI and the afternoon auction results. Tomorrow may be the calmest day unless something unexpected happens, such as a large move in stocks. We should see the most movement in rates the latter days of the week.
©Mortgage Commentary 2021