There is no relevant economic news scheduled for release today. The first report is September's Existing Home Sales late tomorrow morning. This report gives us an indication of housing sector strength and mortgage credit demand. It is expected to show another decline in home resales, meaning the housing sector continues to weaken. This would generally be good news for bonds, but this data is not considered to be of high importance to the bond market or mortgage rates. Accordingly, unless we see a sizable variance from forecasts, the report will likely not greatly affect mortgage rates tomorrow.
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