Thursday’s Durable Goods Orders likely to have the most impact on mortgage rates this week
24 July 2007
Today’s bond market moved in positive territory as the Dow posted sizeable losses.ﾃつ Tomorrow we’ll get our week’s first economic report with June’s Existing Home Sales data, followed by June’s New Home Salesﾃつ coming Thursday.ﾃつ Both expect declines, and neither are expected to have much an impact on rates.
The Beige Book will be released tomorrow afternoon by the Fed, this also should not affect rates.ﾃつ ﾃつ However, Thursday morning’s economic data will come from the Commerce Department with June’s Durable Goods Orders.ﾃつ This report measures the Manufacturing sector strength and a lower than expected number could signal less inflationary pressure and lower mortgage rates.ﾃつ Also the the opposite result will bring the opposite reaction in the markets.
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