Last Updated: 10/21/2007

There are four pieces of data scheduled for release this week that may affect mortgage rates along with a Treasury auction. Only one of the four is considered to be of high importance to the markets, so I am expecting the stock markets to again play a significant role in bonds swings and changes to mortgage rates. With no relevant news scheduled for release tomorrow or Tuesday, we will likely see the bond market remain fairly calm, unless the stock markets post sizable gains or losses. The first report is September's Existing Home Sales that will be posted at 9:00 AM CST Wednesday. September's New Home Sales data will be posted Thursday morning. These reports give us an indication of housing sector strength and mortgage credit demand. I don't see them having much of an influence on the bond market or mortgage rates, but a reading that varies greatly from analysts' forecasts could lead to a slight change in mortgage pricing. Please have a great week.