click for larger imageTreasuries and mortgage rallied Friday on yet another weaker than expected employment report for July. Tomorrow Treasury begins its quarterly refunding with $34B of 3 yr notes auctioned at 1:00. The key economic data this week doesn't hit until Thursday and Friday with weekly claims, July retail sales, July CPI and the mid-month U. of Michigan consumer sentiment index. So far this morning the rate markets are managing to hold Friday's gains.

Want to know more on how the Mortgage Market directly effects mortgage rates or need an explanation of the candlestick chart above? Send us an email and we'll gladly provide an in depth article.  Realtors, ask about a detailed presentation on the Mortgage Market at your next office meeting.