Updated on April 19, 2021 10:11:04 AM EDT
There is nothing of importance scheduled for today or tomorrow. The remainder of the week has only three monthly economic reports that we need to watch, in addition to a Treasury auction and potential stock influences. None of the reports are considered to be highly important or key releases.
Also worth noting is the fact that we are in earnings season this week, where publicly traded companies post their quarterly earnings and forward guidance. These releases generally have more of an impact on stock trading than bonds or mortgage pricing. That said, stock selling fueled by earnings disappointment can cause funds to shift into bonds for safety and lead to lower mortgage pricing.
Overall, no day stands out as the most important for rates. We can’t label one based on relevance of data since none of this week’s releases are expected to be a market mover. The calmest day may be tomorrow, but rates should remain fairly calm most of the week unless something unexpected happens.
©Mortgage Commentary 2021