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Market Commentary

Updated on July 20, 2018 10:36:32 AM EDT

Some lenders improved pricing intraday yesterday as bonds improved late in the day. If your lender improved pricing before closing Thursday, you should see an increase in this morning’s rates by the same amount. The net difference between Thursday’s morning rates and this morning’s pricing should be nearly unchanged.

There is no relevant economic data being released today. There is no clear reason for this morning’s bond weakness other than some traders being pessimistic about which direction yields may be heading. Stocks aren’t having an impact on today’s bond trading or mortgage rates. If the major indexes make a noticeable move either direction, it could cause movement in bonds and possibly mortgage rates later today. Other than that, a pretty dead day in terms of data or other events to watch for mortgage rates direction.

Next week brings us a handful of relevant economic reports that may influence mortgage rates, but only one is considered to be important. There are also a couple of Treasury auctions that have the potential to slightly affect the mortgage market. We do have a Monday release with June’s Existing Home Sales data being posted. Look for details on it and the rest of the week’s activities in Sunday evening’s weekly preview.

 ©Mortgage Commentary 2018

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PRMI NMLS No. 3094. Branch NMLS 252910. PRMI is an Equal Housing Lender. Some products and services may not be available in all states. Credit and collateral are subject to approval. Terms and conditions apply. This is not a commitment to lend. Programs, rates, terms and conditions are subject to change without notice. The content in this marketing advertisement has not been approved, reviewed, sponsored or endorsed by any department or government agency. Rates are subject to change and are subject to borrower(s) qualification. This office is licensed and examined by the Office of Consumer Credit Commissioner of the State of Texas. Alabama Banking Department Bureau of Banking MC 20316. Arkansas Securities Department 11558. Florida Office of Financial Regulation MLD646. Department of Banking and Finance 6521. Office of Financial Institutions #771. Missouri Division of Finance. Mississippi Department of Banking and Consumer Finance, 3094. Oklahoma Department of Consumer Credit ML010027. Department of Financial Institutions 109282.

PRMI NMLS No. 3094. Branch NMLS 252910. PRMI is an Equal Housing Lender. Some products and services may not be available in all states. Credit and collateral are subject to approval. Terms and conditions apply. This is not a commitment to lend. Programs, rates, terms and conditions are subject to change without notice. The content in this marketing advertisement has not been approved, reviewed, sponsored or endorsed by any department or government agency. Rates are subject to change and are subject to borrower(s) qualification. This office is licensed and examined by the Office of Consumer Credit Commissioner of the State of Texas. Alabama Banking Department Bureau of Banking MC 20316. Arkansas Securities Department 11558. Florida Office of Financial Regulation MLD646. Department of Banking and Finance 6521. Office of Financial Institutions #771. Missouri Division of Finance. Mississippi Department of Banking and Consumer Finance, 3094. Oklahoma Department of Consumer Credit ML010027. Department of Financial Institutions 109282.