Mortgage Market Update for Arizona.
All markets are going to be closed on Monday in observance of President's Day. Following that will be two housing reports, new home sales and existing home sales. The other main data points will include weekly jobless claims and January's durable goods orders.
The outlook for our market has shifted recently from bearish to more of a neutral pattern, but despite the expected declines in both the new and existing home sales, it will likely be viewed as weather related and not provide much in the way of any major relief for mortgage rates
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