San Antonio Mortgage Rates/Treasurys Edge Higher Before Auction

 

Prices drift higher as investors await economic reports and a $44 billion offering of 2-year notes. The government is selling a record $123 billion worth of debt this week as reported by Ben Rooney, CNNMoney.com staff reporter.

The government is selling $123 billion worth of Treasurys this week to help fund its economic stimulus efforts and service a growing budget deficit.

Demand for U.S. debt has been strong, many analysts worry that the growing supply of new issues could damp the market's appetite and eventually weigh on prices. This would eventually drive San Antonio mortgage interest rates.

Meanwhile, the bond market is awaiting economic reports on home prices and consumer confidence.

The Case-Shiller Home Price Index comes out at 9 a.m. ET. While home prices are expected to have been down 11.9% in August versus the previous year, the drop would be less severe than the 13.3% decline in July.

Shortly after U.S. markets open, research firm Conference Board releases its reading on consumer confidence. Forecasters believe the index improved to a reading of 53.5 in October from 53.1 in September.

Bond prices. The benchmark 10-year note was up 4/32 to 100-21/32 and its yield slid to 3.547% from 3.554% late Monday. Bond prices and yields move in opposite directions.

This blog was reposted by Steve Brown of Gold Financial Services, universal City, TX. Gold Financial Services is a full service mortgage banking firm with a wide variety of conventional and government loan products, including Texas Veterans Land Board assistance program.                                                         www.mortgagesbysteve.com  (210)862-2885    sbrown0007@aol.com