Three reports come out today, 2 have a high impact on mortgage rates and one a moderate.  The two high are retail sales and retail sales excluding autos.

The report this morning was bleak.  Sales dropped 2.7% which was much worse than the expectation of a 1.2%.  When autos are excluded it gets even worse with a 3.1% decline in lieu of 1.4%.

On this negative news stocks have fallen and mortgage bonds have improved.  If you have people sitting on the fence do you best to get them off.  These dips make a difference in how much a purchaser can afford and long term cash flow.  Wishing you success.